4,905 Shares in Bank of America Co. (NYSE:BAC) Acquired by Wealth Advisory Solutions LLC

Wealth Advisory Solutions LLC bought a new position in shares of Bank of America Co. (NYSE:BAC) in the fourth quarter, Holdings Channel reports. The fund bought 4,905 shares of the financial services provider’s stock, valued at approximately $216,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Swedbank AB lifted its holdings in shares of Bank of America by 0.7% during the third quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider’s stock valued at $279,441,000 after purchasing an additional 50,849 shares during the last quarter. Van ECK Associates Corp raised its holdings in Bank of America by 120.2% during the 3rd quarter. Van ECK Associates Corp now owns 19,231 shares of the financial services provider’s stock worth $814,000 after buying an additional 10,497 shares during the period. Catalyst Capital Advisors LLC purchased a new stake in Bank of America during the third quarter valued at about $1,047,000. FSM Wealth Advisors LLC boosted its holdings in shares of Bank of America by 19.0% in the third quarter. FSM Wealth Advisors LLC now owns 7,077 shares of the financial services provider’s stock worth $281,000 after buying an additional 1,131 shares during the period. Finally, Greenwood Capital Associates LLC increased its position in shares of Bank of America by 4.8% in the third quarter. Greenwood Capital Associates LLC now owns 123,267 shares of the financial services provider’s stock worth $4,891,000 after acquiring an additional 5,647 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on BAC shares. Barclays upped their price target on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, January 7th. Wells Fargo & Company upped their price target on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Truist Financial raised their price objective on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Price Performance

NYSE BAC opened at $42.55 on Wednesday. The firm has a market cap of $323.61 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 1.21 and a beta of 1.33. The stock’s 50-day moving average is $45.77 and its two-hundred day moving average is $43.70. Bank of America Co. has a fifty-two week low of $34.15 and a fifty-two week high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same period last year, the business earned $0.70 EPS. On average, analysts anticipate that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio is currently 32.30%.

About Bank of America

Bank of America Corporation, through its subsidiaries, provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.