Bank of America Co. (NYSE:BAC) Shares Bought by Argyle Capital Management LLC

Argyle Capital Management LLC lifted its position in shares of Bank of America Co. (NYSE:BAC) by 2.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 92,892 shares of the financial services provider’s stock after purchasing an additional 2,133 shares during the quarter. Bank of America comprises approximately 1.6% of Argyle Capital Management LLC’s holdings, making the stock its 16th largest holding. Argyle Capital Management LLC’s holdings in Bank of America were worth $4,083,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Collier Financial purchased a new stake in Bank of America during the 4th quarter worth $25,000. Life Planning Partners Inc raised its holdings in shares of Bank of America by 3,883.2% during the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after buying an additional 545,936 shares during the period. Kennebec Savings Bank acquired a new position in Bank of America during the 3rd quarter worth approximately $29,000. Highline Wealth Partners LLC boosted its holdings in Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 510 shares during the period. Finally, Retirement Wealth Solutions LLC acquired a new stake in Bank of America in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

BAC has been the subject of several analyst reports. Morgan Stanley upped their target price on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Oppenheimer lifted their target price on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, January 7th. Truist Financial lifted their price objective on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Finally, Wells Fargo & Company raised their price target on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Stock Up 0.5 %

BAC opened at $44.17 on Friday. The stock’s 50 day moving average price is $45.74 and its 200 day moving average price is $43.50. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market cap of $338.87 billion, a P/E ratio of 13.72, a P/E/G ratio of 1.21 and a beta of 1.33. Bank of America Co. has a 12 month low of $34.03 and a 12 month high of $48.08.

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

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio is currently 32.30%.

Bank of America Profile

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.