TFR Capital LLC. Buys New Holdings in Bank of America Co. (NYSE:BAC)

TFR Capital LLC. acquired a new stake in shares of Bank of America Co. (NYSE:BAC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,361 shares of the financial services provider's stock, valued at approximately $455,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Bank of America during the fourth quarter valued at $5,226,989,000. Capital World Investors grew its holdings in Bank of America by 23.9% during the fourth quarter. Capital World Investors now owns 88,210,527 shares of the financial services provider's stock worth $3,876,853,000 after acquiring an additional 17,031,143 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Bank of America by 10.6% during the fourth 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 acquiring an additional 11,691,451 shares during the period. Amundi increased its holdings in shares of Bank of America by 37.1% during the 4th quarter. Amundi now owns 37,819,980 shares of the financial services provider's stock valued at $1,747,658,000 after purchasing an additional 10,231,001 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Bank of America by 17.2% during the 4th quarter. Northern Trust Corp now owns 67,935,940 shares of the financial services provider's stock worth $2,985,785,000 after acquiring an additional 9,980,859 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America Trading Down 0.3%

Shares of BAC traded down $0.14 during midday trading on Wednesday, hitting $44.08. 35,352,234 shares of the stock were exchanged, compared to its average volume of 39,798,775. Bank of America Co. has a 52-week low of $33.07 and a 52-week high of $48.08. 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 has a fifty day simple moving average of $40.39 and a 200 day simple moving average of $43.58. The firm has a market cap of $332.01 billion, a P/E ratio of 13.69, a P/E/G ratio of 1.21 and a beta of 1.27.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results 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. 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%. On average, research analysts anticipate that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be given a $0.26 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.04 annualized dividend and a yield of 2.36%. Bank of America's dividend payout ratio is presently 30.95%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods decreased their target price on Bank of America from $55.00 to $52.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 16th. Truist Financial reduced their price objective on shares of Bank of America from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Barclays cut their target price on shares of Bank of America from $58.00 to $54.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Piper Sandler reduced 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. Finally, TD Cowen initiated coverage on Bank of America in a report on Thursday, May 15th. They issued a "buy" rating and a $53.00 price objective on the stock. 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.50.

Bank of America 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.