Heck Capital Advisors LLC Takes $429,000 Position in Bank of America Co. (NYSE:BAC)

Heck Capital Advisors LLC bought a new stake in Bank of America Co. (NYSE:BAC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,752 shares of the financial services provider's stock, valued at approximately $429,000.

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

Analyst Ratings Changes

A number of brokerages have weighed in on BAC. Baird R W upgraded Bank of America from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Evercore ISI decreased their target price on Bank of America from $51.00 to $48.00 and set an "outperform" rating for the company in a research report on Tuesday, April 1st. Argus decreased their target price on Bank of America from $53.00 to $47.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Barclays decreased their target price on Bank of America from $58.00 to $54.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, 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. Two research analysts have rated the stock with a sell rating, five have assigned 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.50.

Bank of America Stock Performance

Bank of America stock traded down $0.14 during mid-day trading on Wednesday, hitting $44.08. 35,274,090 shares of the company's stock traded hands, compared to its average volume of 39,763,303. The firm has a 50 day moving average price of $40.39 and a 200 day moving average price of $43.58. 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 company has a market cap of $332.01 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27. 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 issued its quarterly 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 return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $27.37 billion for the quarter, compared to analysts' expectations of $26.83 billion. On average, equities analysts forecast that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

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 given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.36%. The ex-dividend date 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.