9,102 Shares in Bank of America Corporation (NYSE:BAC) Purchased by Wolf Group Capital Advisors

Wolf Group Capital Advisors acquired a new position in shares of Bank of America Corporation (NYSE:BAC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,102 shares of the financial services provider's stock, valued at approximately $380,000.

Several other hedge funds and other institutional investors have also modified their holdings of BAC. Graney & King LLC purchased a new stake in shares of Bank of America during the fourth quarter worth $25,000. Fairway Wealth LLC purchased a new stake in shares of Bank of America during the fourth quarter worth $29,000. Vega Investment Solutions purchased a new stake in shares of Bank of America during the fourth quarter worth $30,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Bank of America during the fourth quarter worth $31,000. Finally, Spurstone Advisory Services LLC purchased a new stake in shares of Bank of America during the fourth quarter worth $34,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Baird R W upgraded Bank of America from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. Piper Sandler lowered their target price on shares of 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. Phillip Securities raised shares of Bank of America from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, April 17th. Argus lowered 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. Finally, Truist Financial lowered their target price on shares of 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. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $47.69.

Bank of America Stock Performance

Shares of NYSE:BAC traded up $0.79 during midday trading on Thursday, hitting $45.02. The company's stock had a trading volume of 37,676,876 shares, compared to its average volume of 39,791,457. The stock has a market capitalization of $339.09 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 1.22 and a beta of 1.30. The stock's 50 day simple moving average is $41.98 and its 200 day simple moving average is $43.35. Bank of America Corporation has a fifty-two week low of $33.07 and a fifty-two week high of $48.08. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.78 and a current ratio of 0.79.

Bank of America (NYSE:BAC - Get Free Report) last released 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 return on equity of 10.25% and a net margin of 14.56%. The business had revenue of $27.37 billion for the quarter, compared to the consensus estimate of $26.83 billion. As a group, research analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America's dividend payout ratio (DPR) 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.