6,399 Shares in Bank of America Co. (NYSE:BAC) Purchased by Helium Advisors LLC

Helium Advisors LLC acquired a new position in shares of Bank of America Co. (NYSE:BAC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,399 shares of the financial services provider's stock, valued at approximately $281,000.

Other large investors have also added to or reduced their stakes in the company. Graney & King LLC purchased a new stake in Bank of America during the fourth quarter worth about $25,000. Collier Financial purchased a new stake in Bank of America during the fourth quarter worth about $25,000. Fairway Wealth LLC purchased a new position in shares of Bank of America in the fourth quarter worth about $29,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Bank of America in the fourth quarter worth about $31,000. Finally, Spurstone Advisory Services LLC purchased a new position in shares of Bank of America in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 70.71% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BAC. JPMorgan Chase & Co. reduced their target price on shares of Bank of America from $49.50 to $43.50 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Barclays reduced their target price on shares of Bank of America from $58.00 to $54.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Truist Financial reduced their target price on shares of Bank of America from $50.00 to $47.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Wall Street Zen downgraded shares of Bank of America from a "hold" rating to a "sell" rating in a research note on Thursday. Finally, Cfra Research lifted their target price on shares of Bank of America to $47.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $47.50.

Bank of America Trading Up 0.0%

Shares of Bank of America stock opened at $43.27 on Friday. 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 $325.90 billion, a PE ratio of 13.44, a PEG ratio of 1.21 and a beta of 1.27. 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 company has a 50 day simple moving average of $40.31 and a two-hundred day simple moving average of $43.60.

Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $26.83 billion. Analysts expect that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business 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 dividend of $0.26 per share. The ex-dividend date is Friday, June 6th. This represents a $1.04 annualized dividend and a yield of 2.40%. Bank of America's payout ratio is presently 30.95%.

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.

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