Pathstone Holdings LLC increased its position in shares of Bank of America Co. (NYSE:BAC - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,012,885 shares of the financial services provider's stock after buying an additional 35,875 shares during the period. Pathstone Holdings LLC's holdings in Bank of America were worth $44,522,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in BAC. Regent Peak Wealth Advisors LLC increased its stake in shares of Bank of America by 10.3% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 11,971 shares of the financial services provider's stock valued at $526,000 after buying an additional 1,116 shares during the period. EWG Elevate Inc. purchased a new position in shares of Bank of America during the fourth quarter valued at $207,000. Trust Co. of Toledo NA OH increased its stake in shares of Bank of America by 6.6% during the fourth quarter. Trust Co. of Toledo NA OH now owns 14,160 shares of the financial services provider's stock valued at $622,000 after buying an additional 872 shares during the period. Fragasso Financial Advisors Inc increased its stake in shares of Bank of America by 6.2% during the fourth quarter. Fragasso Financial Advisors Inc now owns 6,946 shares of the financial services provider's stock valued at $305,000 after buying an additional 404 shares during the period. Finally, Elevated Capital Advisors LLC increased its stake in shares of Bank of America by 29.7% during the fourth quarter. Elevated Capital Advisors LLC now owns 10,152 shares of the financial services provider's stock valued at $446,000 after buying an additional 2,325 shares during the period. Hedge funds and other institutional investors own 70.71% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on BAC shares. Cfra Research raised their price objective on Bank of America to $47.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Morgan Stanley raised their price objective on Bank of America from $54.00 to $56.00 and gave the company an "equal weight" rating in a research report on Friday, January 17th. Truist Financial dropped their price objective on Bank of America from $50.00 to $47.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Citigroup dropped their price objective on Bank of America from $54.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. Finally, Keefe, Bruyette & Woods dropped their price objective on Bank of America from $55.00 to $52.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, Bank of America presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.50.
Get Our Latest Analysis on Bank of America
Bank of America Stock Performance
NYSE:BAC traded up $0.28 during trading hours on Friday, reaching $44.66. The company had a trading volume of 49,375,450 shares, compared to its average volume of 39,631,243. Bank of America Co. has a 1-year low of $33.07 and a 1-year high of $48.08. The firm has a market cap of $336.38 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27. The business's 50 day moving average price is $39.93 and its 200-day moving average price is $43.53. 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.10. The business had revenue of $27.37 billion during the quarter, compared to analysts' expectations of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Research analysts forecast that Bank of America Co. will post 3.7 EPS for the current year.
Bank of America Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders 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 dividend yield of 2.33%. The ex-dividend date is Friday, June 6th. Bank of America's dividend payout ratio (DPR) is presently 30.95%.
About Bank of America
(
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.
See Also
Before you consider Bank of America, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank of America wasn't on the list.
While Bank of America currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
