Good Steward Wealth Advisors LLC Invests $251,000 in Bank of America Corporation (NYSE:BAC)

Good Steward Wealth Advisors LLC acquired a new stake in Bank of America Corporation (NYSE:BAC) during the first quarter, according to its most recent filing with the SEC. The firm acquired 6,003 shares of the financial services provider's stock, valued at approximately $251,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of Bank of America by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 142,289,199 shares of the financial services provider's stock valued at $6,243,000,000 after acquiring an additional 2,033,229 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Bank of America by 10.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 122,437,422 shares of the financial services provider's stock worth $5,381,126,000 after purchasing an additional 11,691,451 shares during the period. Norges Bank acquired a new position in Bank of America during the 4th quarter worth approximately $5,226,989,000. Capital World Investors raised its stake in shares of Bank of America by 23.9% during the 4th quarter. Capital World Investors now owns 88,210,527 shares of the financial services provider's stock worth $3,876,853,000 after buying an additional 17,031,143 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Bank of America by 17.2% in the 4th quarter. Northern Trust Corp now owns 67,935,940 shares of the financial services provider's stock valued at $2,985,785,000 after buying an additional 9,980,859 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Stock Performance

NYSE BAC opened at $45.02 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. Bank of America Corporation has a fifty-two week low of $33.07 and a fifty-two week high of $48.08. The business has a fifty day moving average of $42.17 and a 200-day moving average of $43.34. The stock has a market cap of $339.09 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 1.22 and a beta of 1.30.

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 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 the consensus estimate of $26.83 billion. Bank of America had a net margin of 14.56% and a return on equity of 10.25%. As a group, analysts predict that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, June 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.31%. Bank of America's dividend payout ratio (DPR) is presently 30.95%.

Analyst Ratings Changes

A number of brokerages recently weighed in on BAC. Oppenheimer reaffirmed an "outperform" rating on shares of Bank of America in a report on Thursday, May 22nd. Piper Sandler lowered their price target on shares of Bank of America from $45.00 to $42.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Citigroup cut their price target on shares of Bank of America from $54.00 to $50.00 and set a "buy" rating for the company in a report on Monday, March 24th. Royal Bank Of Canada reduced their price objective on shares of Bank of America from $50.00 to $45.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group upped their target price on shares of Bank of America from $46.00 to $52.00 and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.69.

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.

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