Mission Creek Capital Partners Inc. Makes New Investment in Bank of America Co. (NYSE:BAC)

Mission Creek Capital Partners Inc. purchased a new stake in shares of Bank of America Co. (NYSE:BAC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 21,444 shares of the financial services provider's stock, valued at approximately $942,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Collier Financial bought a new stake in Bank of America in the fourth quarter worth about $25,000. Life Planning Partners Inc grew its stake in shares of Bank of America by 3,883.2% in the 4th 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 during the last quarter. Graney & King LLC bought a new stake in shares of Bank of America in the 4th quarter worth approximately $25,000. Fairway Wealth LLC acquired a new stake in Bank of America during the fourth quarter valued at approximately $29,000. Finally, Glass Jacobson Investment Advisors llc boosted its holdings in Bank of America by 53.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider's stock worth $35,000 after buying an additional 276 shares in the last quarter. Institutional investors own 70.71% of the company's stock.

Bank of America Stock Up 1.0 %

Shares of NYSE:BAC traded up $0.41 on Thursday, reaching $40.29. The company had a trading volume of 14,363,077 shares, compared to its average volume of 45,107,809. The stock has a market capitalization of $306.28 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.21 and a beta of 1.24. The stock has a 50-day moving average price of $40.15 and a 200 day moving average price of $43.54. Bank of America Co. has a twelve month low of $33.06 and a twelve month 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 posted its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.10. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm had revenue of $27.37 billion during the quarter, compared to analyst estimates of $26.83 billion. On average, equities analysts expect that Bank of America Co. will post 3.7 EPS 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 issued 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 2.58%. Bank of America's dividend payout ratio (DPR) is presently 30.95%.

Analysts Set New Price Targets

BAC has been the subject of a number of recent research reports. Phillip Securities upgraded Bank of America from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, April 17th. Cfra Research upped their target price on Bank of America to $47.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. UBS Group upped their price objective on shares of Bank of America from $46.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Royal Bank of Canada reduced their price target 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. Finally, Truist Financial lowered their price objective 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $47.25.

Bank of America Company 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.