Investor s Fiduciary Advisor Network LLC Acquires Shares of 14,744 Bank of America Co. (NYSE:BAC)

Investor s Fiduciary Advisor Network LLC acquired a new stake in shares of Bank of America Co. (NYSE:BAC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,744 shares of the financial services provider's stock, valued at approximately $647,000.

Other large investors have also made changes to their positions in the company. Regent Peak Wealth Advisors LLC raised its holdings in shares of Bank of America by 10.3% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 11,971 shares of the financial services provider's stock worth $526,000 after acquiring an additional 1,116 shares during the period. ST Germain D J Co. Inc. lifted its stake in Bank of America by 19.1% in the 4th quarter. ST Germain D J Co. Inc. now owns 9,846 shares of the financial services provider's stock valued at $433,000 after purchasing an additional 1,581 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of Bank of America by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 149,812 shares of the financial services provider's stock valued at $6,584,000 after buying an additional 3,608 shares during the last quarter. Czech National Bank boosted its position in Bank of America by 5.2% during the fourth quarter. Czech National Bank now owns 1,447,360 shares of the financial services provider's stock worth $63,611,000 after purchasing an additional 72,144 shares during the period. Finally, Eastover Investment Advisors LLC acquired a new position in Bank of America in the 4th quarter valued at about $230,000. Institutional investors own 70.71% of the company's stock.

Bank of America Stock Up 0.9%

NYSE:BAC traded up $0.41 during trading hours on Wednesday, reaching $44.69. The company had a trading volume of 10,494,223 shares, compared to its average volume of 39,343,503. The firm has a market cap of $336.61 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 1.21 and a beta of 1.27. The business's 50-day simple moving average is $39.77 and its two-hundred day simple moving average is $43.51. 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 Co. has a twelve month low of $33.07 and a twelve month high of $48.08.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.10. The business had revenue of $27.37 billion during 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%. On average, equities analysts expect that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America's dividend payout ratio is currently 30.95%.

Analysts Set New Price Targets

A number of research analysts have commented on BAC shares. Baird R W raised Bank of America from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. Royal Bank of Canada lowered their price objective on shares of Bank of America from $50.00 to $45.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Argus dropped their target price on shares of Bank of America from $53.00 to $47.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Piper Sandler cut 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. Finally, Phillip Securities raised shares of Bank of America from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $47.25.

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.