Waters Parkerson & CO. LLC raised its position in shares of Bank of America Co. (NYSE:BAC - Free Report) by 0.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,165,616 shares of the financial services provider's stock after buying an additional 8,898 shares during the period. Bank of America comprises about 2.7% of Waters Parkerson & CO. LLC's holdings, making the stock its 10th largest holding. Waters Parkerson & CO. LLC's holdings in Bank of America were worth $51,229,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. St. Clair Advisors LLC acquired a new position in shares of Bank of America in the 4th quarter valued at $244,000. Triglav Skladi D.O.O. purchased a new stake in shares of Bank of America in the fourth quarter valued at $7,112,000. Two Sigma Advisers LP boosted its position in Bank of America by 14.4% during the fourth quarter. Two Sigma Advisers LP now owns 11,677,600 shares of the financial services provider's stock worth $513,231,000 after acquiring an additional 1,469,700 shares during the last quarter. Texas Bank & Trust Co purchased a new position in shares of Bank of America during the 4th quarter worth about $244,000. Finally, Theleme Partners LLP purchased a new stake in Bank of America during the fourth quarter valued at about $263,449,000. Hedge funds and other institutional investors own 70.71% of the company's stock.
Bank of America Stock Up 0.6%
Shares of BAC opened at $44.66 on Monday. Bank of America Co. has a 12-month low of $33.07 and a 12-month high of $48.08. The firm has a market capitalization of $336.38 billion, a P/E ratio of 13.87, a P/E/G ratio of 1.21 and a beta of 1.27. The firm has a fifty day moving average price of $40.03 and a 200-day moving average price of $43.56. 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 issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. The firm had revenue of $27.37 billion during the quarter, compared to analyst estimates of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Equities research analysts expect that Bank of America Co. will post 3.7 earnings per share 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. Shareholders of record on Friday, June 6th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America's payout ratio is currently 30.95%.
Analysts Set New Price Targets
BAC has been the topic of a number of recent analyst reports. Truist Financial cut their target price 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. JPMorgan Chase & Co. dropped their price target on Bank of America from $49.50 to $43.50 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Argus dropped their target price on Bank of America from $53.00 to $47.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Barclays cut their price objective on shares of Bank of America from $58.00 to $54.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Oppenheimer upped their price target on Bank of America from $50.00 to $51.00 and gave the stock an "outperform" rating in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $47.50.
Read Our Latest Analysis on BAC
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.
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