Vident Advisory LLC Increases Holdings in Bank of America Co. (NYSE:BAC)

Vident Advisory LLC lifted its position in Bank of America Co. (NYSE:BAC - Free Report) by 88.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 602,490 shares of the financial services provider's stock after purchasing an additional 282,255 shares during the period. Vident Advisory LLC's holdings in Bank of America were worth $26,480,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Collier Financial purchased a new stake in Bank of America during the fourth quarter worth $25,000. Life Planning Partners Inc increased its position in shares of Bank of America by 3,883.2% during the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider's stock worth $25,000 after purchasing an additional 545,936 shares in the last quarter. Graney & King LLC acquired a new position in shares of Bank of America during the fourth quarter worth $25,000. Fairway Wealth LLC acquired a new position in shares of Bank of America during the fourth quarter worth $29,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Bank of America during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 70.71% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BAC. Piper Sandler reduced their price target on Bank of America from $45.00 to $42.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Barclays cut their target price on Bank of America from $58.00 to $54.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Robert W. Baird raised Bank of America from a "neutral" rating to an "outperform" rating and upped their target price for the company from $45.00 to $50.00 in a research report on Friday, March 7th. Truist Financial cut their target price on Bank of America from $50.00 to $47.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Finally, UBS Group upped their target price on Bank of America from $46.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $47.50.

Bank of America Trading Up 0.6%

Shares of NYSE:BAC opened at $44.66 on Monday. The company has a market cap of $336.38 billion, a PE ratio of 13.87, a P/E/G ratio of 1.21 and a beta of 1.27. The company's 50-day moving average price is $40.03 and its 200 day moving average price is $43.56. Bank of America Co. has a fifty-two week low of $33.07 and a fifty-two week high of $48.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.10. The firm had revenue of $27.37 billion for the quarter, compared to the consensus estimate of $26.83 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. Sell-side analysts anticipate that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors 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 2.33%. Bank of America's dividend payout ratio is presently 30.95%.

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.

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