5,671 Shares in Bank of America Corporation (NYSE:BAC) Purchased by North Capital Inc.

North Capital Inc. acquired a new position in Bank of America Corporation (NYSE:BAC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,671 shares of the financial services provider's stock, valued at approximately $237,000.

Several other large investors also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in Bank of America by 30.0% during the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock worth $4,785,000 after acquiring an additional 25,143 shares during the period. Bank Pictet & Cie Europe AG increased its position in Bank of America by 35.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 860,005 shares of the financial services provider's stock valued at $37,797,000 after acquiring an additional 226,246 shares during the last quarter. Glass Wealth Management Co LLC boosted its position in shares of Bank of America by 0.3% during the fourth quarter. Glass Wealth Management Co LLC now owns 106,542 shares of the financial services provider's stock valued at $4,683,000 after buying an additional 325 shares during the period. Carrera Capital Advisors bought a new position in Bank of America in the 4th quarter valued at $204,000. Finally, Wealth Advisory Solutions LLC bought a new stake in Bank of America during the 4th quarter valued at about $216,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America Trading Up 0.5%

Shares of BAC stock traded up $0.23 during trading hours on Thursday, hitting $48.94. The company had a trading volume of 21,620,278 shares, compared to its average volume of 40,113,109. Bank of America Corporation has a fifty-two week low of $33.07 and a fifty-two week high of $49.30. The company's fifty day moving average is $43.91 and its 200 day moving average is $43.39. The stock has a market capitalization of $368.61 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 1.33 and a beta of 1.30. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.78.

Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. Bank of America had a return on equity of 10.25% and a net margin of 14.56%. The business had revenue of $27.37 billion during the quarter, compared to analysts' expectations of $26.83 billion. Research analysts expect that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Friday, June 6th. Bank of America's dividend payout ratio is presently 30.95%.

Analysts Set New Price Targets

BAC has been the subject of a number of research analyst reports. Oppenheimer reaffirmed an "outperform" rating on shares of Bank of America in a research report on Thursday, May 22nd. Argus cut their target price on shares of Bank of America from $53.00 to $47.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Piper Sandler lowered their price target on shares of 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. Citigroup lifted their target price on Bank of America from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Finally, 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $47.98.

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.