Brucke Financial Inc. Makes New Investment in Bank of America Co. (NYSE:BAC)

Brucke Financial Inc. bought a new stake in Bank of America Co. (NYSE:BAC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 13,242 shares of the financial services provider's stock, valued at approximately $613,000.

A number of other large investors have also recently modified their holdings of the business. Collier Financial acquired a new stake in shares of Bank of America during the 4th quarter valued at $25,000. Life Planning Partners Inc lifted its stake in shares of Bank of America by 3,883.2% in the 4th 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 period. Graney & King LLC acquired a new position in shares of Bank of America in the 4th quarter valued at about $25,000. Fairway Wealth LLC acquired a new position in shares of Bank of America in the 4th quarter valued at about $29,000. Finally, Vega Investment Solutions acquired a new position in shares of Bank of America in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 70.71% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on BAC shares. Piper Sandler decreased their target price on Bank of America from $45.00 to $42.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Barclays decreased their price objective on Bank of America from $58.00 to $54.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Truist Financial decreased their price objective on Bank of America from $50.00 to $47.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Oppenheimer reaffirmed an "outperform" rating on shares of Bank of America in a report on Thursday, May 22nd. Finally, Cowen started coverage on Bank of America in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Bank of America has a consensus rating of "Moderate Buy" and an average target price of $47.50.

Bank of America Price Performance

Shares of Bank of America stock traded up $0.09 on Thursday, hitting $44.15. The company's stock had a trading volume of 16,033,652 shares, compared to its average volume of 39,708,056. Bank of America Co. has a 52-week low of $33.07 and a 52-week high of $48.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm has a fifty day moving average price of $40.42 and a 200-day moving average price of $43.59. The company has a market capitalization of $332.49 billion, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27.

Bank of America (NYSE:BAC - Get Free Report) last released its earnings results 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 company had revenue of $27.37 billion for the quarter, compared to analyst estimates of $26.83 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. On average, equities 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. Investors 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 yield of 2.36%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America's dividend payout ratio (DPR) is presently 30.95%.

Bank of America Company 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.