Citizens Business Bank Has $5.63 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

Citizens Business Bank boosted its position in Bank of America Co. (NYSE:BAC) by 61.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 127,995 shares of the financial services provider's stock after purchasing an additional 48,868 shares during the period. Citizens Business Bank's holdings in Bank of America were worth $5,625,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Collier Financial acquired a new position in Bank of America in the 4th quarter valued at about $25,000. Life Planning Partners Inc grew its position in shares of Bank of America by 3,883.2% in the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 545,936 shares during the last quarter. Graney & King LLC acquired a new stake in Bank of America during the 4th quarter worth approximately $25,000. Fairway Wealth LLC bought a new stake in Bank of America in the 4th quarter valued at $29,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Bank of America in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Stock Up 0.3 %

Shares of BAC opened at $40.95 on Thursday. Bank of America Co. has a 12-month low of $33.07 and a 12-month 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. The company has a market capitalization of $308.45 billion, a PE ratio of 12.72, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27. The business's 50 day moving average is $39.78 and its 200 day moving average is $43.48.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. The business had revenue of $27.37 billion for 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 expect that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.54%. Bank of America's dividend payout ratio (DPR) is 30.95%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BAC shares. Cfra Research upped their price target on shares of Bank of America to $47.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Truist Financial dropped their price target on shares of Bank of America from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Evercore ISI lowered their price objective on Bank of America from $51.00 to $48.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 1st. UBS Group increased their target price on Bank of America from $46.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. Finally, Phillip Securities raised Bank of America from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, April 17th. 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. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $47.25.

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.

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