Hall Capital Management Co. Inc. bought a new position in shares of Bank of America Co. (NYSE:BAC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 14,096 shares of the financial services provider's stock, valued at approximately $620,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of BAC. Graney & King LLC acquired a new position in shares of Bank of America in the 4th quarter valued at $25,000. Collier Financial acquired a new stake in shares of Bank of America during the fourth quarter valued at approximately $25,000. Fairway Wealth LLC purchased a new stake in shares of Bank of America in the 4th quarter valued at approximately $29,000. Vega Investment Solutions acquired a new position in Bank of America in the 4th quarter worth approximately $30,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in Bank of America during the 4th quarter worth approximately $31,000. 70.71% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research firms recently commented on BAC. Baird R W upgraded shares of Bank of America from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. Truist Financial reduced their price target 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. Phillip Securities upgraded shares of Bank of America from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, April 17th. Oppenheimer restated an "outperform" rating on shares of Bank of America in a report on Thursday, May 22nd. Finally, Keefe, Bruyette & Woods decreased their price target on Bank of America from $55.00 to $52.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $47.50.
Read Our Latest Stock Analysis on BAC
Bank of America Price Performance
Shares of BAC traded up $0.04 during mid-day trading on Thursday, hitting $44.10. 14,782,091 shares of the company traded hands, compared to its average volume of 39,701,660. 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 stock has a market capitalization of $332.12 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.21 and a beta of 1.27. The business has a 50-day moving average of $40.42 and a 200 day moving average of $43.59. Bank of America Co. has a one year low of $33.07 and a one year high of $48.08.
Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.10. The firm had revenue of $27.37 billion for 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%. As a group, equities 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be paid 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 2.36%. Bank of America's dividend payout ratio (DPR) is presently 30.95%.
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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