Bulltick Wealth Management LLC Invests $494,000 in Bank of America Co. (NYSE:BAC)

Bulltick Wealth Management LLC bought a new position in shares of Bank of America Co. (NYSE:BAC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 11,250 shares of the financial services provider's stock, valued at approximately $494,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Graney & King LLC acquired a new stake in Bank of America in the fourth quarter valued at $25,000. Collier Financial acquired a new position in shares of Bank of America in the fourth quarter worth approximately $25,000. Fairway Wealth LLC bought a new stake in Bank of America in the fourth quarter valued at approximately $29,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Bank of America during the 4th quarter worth approximately $31,000. Finally, Glass Jacobson Investment Advisors llc lifted its position in shares of 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 purchasing an additional 276 shares during the period. 70.71% of the stock is owned by institutional investors.

Bank of America Stock Performance

Shares of BAC stock traded down $0.26 during trading on Tuesday, hitting $40.86. The company's stock had a trading volume of 29,470,622 shares, compared to its average volume of 39,256,504. The business has a fifty day moving average of $39.89 and a 200-day moving average of $43.50. The company has a market cap of $310.62 billion, a PE ratio of 12.69, a P/E/G ratio of 1.21 and a beta of 1.27. Bank of America Co. has a 52 week low of $33.07 and a 52 week high of $48.08. 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 data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.10. The firm had revenue of $27.37 billion during the quarter, compared to the consensus estimate of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. As a group, research analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Friday, June 6th. Bank of America's dividend payout ratio is currently 30.95%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BAC. HSBC raised shares of Bank of America from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Baird R W raised shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 7th. Truist Financial cut their target price on shares of Bank of America from $50.00 to $47.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. UBS Group increased their price objective on shares of Bank of America from $46.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Finally, Oppenheimer boosted their target price on Bank of America from $50.00 to $51.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $47.25.

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.