Alteri Wealth LLC purchased a new stake in shares of Bank of America Co. (NYSE:BAC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 81,507 shares of the financial services provider's stock, valued at approximately $3,582,000. Bank of America accounts for 1.0% of Alteri Wealth LLC's holdings, making the stock its 14th biggest position.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Graney & King LLC purchased a new stake in Bank of America in the 4th quarter worth $25,000. Collier Financial acquired a new stake in shares of Bank of America in the fourth quarter valued at about $25,000. Fairway Wealth LLC acquired a new position in shares of Bank of America during the 4th quarter worth about $29,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Bank of America in the 4th quarter valued at about $31,000. Finally, Glass Jacobson Investment Advisors llc boosted its holdings in Bank of America by 53.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider's stock worth $35,000 after buying an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.
Bank of America Stock Performance
NYSE BAC opened at $41.08 on Friday. The stock has a market cap of $312.32 billion, a PE ratio of 12.76, a P/E/G ratio of 1.21 and a beta of 1.27. Bank of America Co. has a twelve month low of $33.07 and a twelve month high of $48.08. The stock has a fifty day simple moving average of $40.01 and a 200-day simple moving average of $43.52. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.
Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.10. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $27.37 billion during the quarter, compared to analysts' expectations of $26.83 billion. Equities analysts anticipate that Bank of America Co. will post 3.7 earnings per share for the current year.
Bank of America Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Friday, June 6th. Bank of America's payout ratio is 30.95%.
Analysts Set New Price Targets
BAC has been the subject of a number of research analyst reports. Truist Financial reduced their target price on Bank of America from $50.00 to $47.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Citigroup decreased their price objective on Bank of America from $54.00 to $50.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Argus dropped their target price on shares of Bank of America from $53.00 to $47.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Baird R W raised shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Finally, Piper Sandler dropped their price objective on shares of Bank of America from $45.00 to $42.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.25.
Check Out Our Latest Stock Analysis on BAC
Bank of America Company Profile
(
Free Report)
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.
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