9,752 Shares in Bank of America Co. (NYSE:BAC) Acquired by Heck Capital Advisors LLC

Heck Capital Advisors LLC bought a new stake in shares of Bank of America Co. (NYSE:BAC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 9,752 shares of the financial services provider's stock, valued at approximately $429,000.

A number of other institutional investors have also recently bought and sold shares of BAC. Leigh Baldwin & CO. LLC bought a new stake in Bank of America in the fourth quarter worth $899,000. Armis Advisers LLC bought a new position in shares of Bank of America during the fourth quarter valued at $851,000. Integrated Advisors Network LLC lifted its holdings in shares of Bank of America by 93.8% during the fourth quarter. Integrated Advisors Network LLC now owns 167,579 shares of the financial services provider's stock valued at $7,365,000 after acquiring an additional 81,128 shares during the period. Garde Capital Inc. grew its holdings in Bank of America by 24.6% during the 4th quarter. Garde Capital Inc. now owns 11,479 shares of the financial services provider's stock worth $505,000 after acquiring an additional 2,270 shares during the last quarter. Finally, Hall Capital Management Co. Inc. bought a new stake in Bank of America during the 4th quarter worth about $620,000. Hedge funds and other institutional investors own 70.71% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on Bank of America from $49.50 to $43.50 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Citigroup decreased 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 research note on Monday, March 24th. UBS Group upped their price objective on Bank of America from $46.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. TD Cowen began coverage on shares of Bank of America in a research report on Thursday, May 15th. They set a "buy" rating and a $53.00 price objective for the company. Finally, Piper Sandler decreased their price objective on Bank of America from $45.00 to $42.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $47.50.

Bank of America Stock Up 2.3%

Shares of BAC stock traded up $1.00 on Tuesday, hitting $44.20. The stock had a trading volume of 36,298,959 shares, compared to its average volume of 39,781,357. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The stock's 50 day moving average is $40.36 and its 200-day moving average is $43.58. The firm has a market capitalization of $332.91 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 1.21 and a beta of 1.27. Bank of America Co. has a 52-week low of $33.07 and a 52-week high of $48.08.

Bank of America (NYSE:BAC - Get Free Report) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm had revenue of $27.37 billion during the quarter, compared to analysts' expectations of $26.83 billion. As a group, 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 announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders 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 yield of 2.35%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America's payout ratio is 30.95%.

About Bank of America

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.