Bank of America Co. (NYSE:BAC) Shares Bought by Unisphere Establishment

Unisphere Establishment increased its position in shares of Bank of America Co. (NYSE:BAC - Free Report) by 26.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 240,750 shares of the financial services provider's stock after purchasing an additional 50,750 shares during the quarter. Unisphere Establishment's holdings in Bank of America were worth $10,581,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Rehmann Capital Advisory Group raised its stake in shares of Bank of America by 6.8% during the 4th quarter. Rehmann Capital Advisory Group now owns 44,135 shares of the financial services provider's stock valued at $1,940,000 after buying an additional 2,799 shares during the last quarter. Connors Investor Services Inc. grew its holdings in Bank of America by 0.3% during the fourth quarter. Connors Investor Services Inc. now owns 341,895 shares of the financial services provider's stock worth $15,026,000 after acquiring an additional 1,059 shares during the period. Bridgewealth Advisory Group LLC raised its position in Bank of America by 82.2% during the fourth quarter. Bridgewealth Advisory Group LLC now owns 37,814 shares of the financial services provider's stock valued at $1,752,000 after acquiring an additional 17,055 shares in the last quarter. Voleon Capital Management LP purchased a new position in Bank of America during the fourth quarter valued at approximately $6,601,000. Finally, Northern Trust Corp lifted its holdings in Bank of America by 17.2% in the fourth quarter. Northern Trust Corp now owns 67,935,940 shares of the financial services provider's stock valued at $2,985,785,000 after acquiring an additional 9,980,859 shares during the period. Hedge funds and other institutional investors own 70.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada cut their target price on shares of Bank of America from $50.00 to $45.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. Truist Financial decreased 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. JPMorgan Chase & Co. lowered their target price on shares of Bank of America from $49.50 to $43.50 and set an "overweight" rating on the stock in a research note on Thursday, April 3rd. Morgan Stanley lifted their price target on Bank of America from $54.00 to $56.00 and gave the company an "equal weight" rating in a research note on Friday, January 17th. Finally, Barclays lowered their price target 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $47.25.

Bank of America Trading Up 2.3 %

Shares of Bank of America stock traded up $0.91 during mid-day trading on Friday, hitting $41.08. The stock had a trading volume of 41,601,768 shares, compared to its average volume of 39,256,999. The firm has a market cap of $312.32 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.21 and a beta of 1.24. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average of $40.07 and a two-hundred day moving average of $43.52. Bank of America Co. has a 12-month low of $33.07 and a 12-month high of $48.08.

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 company had revenue of $27.37 billion during the quarter, compared to analysts' expectations of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Sell-side analysts forecast that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The business 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 dividend of $0.26 per share. The ex-dividend date is Friday, June 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.53%. Bank of America's payout ratio is currently 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.