Clarity Capital Partners LLC purchased a new position in shares of Bank of America Co. (NYSE:BAC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 7,649 shares of the financial services provider’s stock, valued at approximately $258,000.
Several other large investors also recently modified their holdings of the stock. Sunpointe LLC purchased a new position in Bank of America in the 4th quarter valued at approximately $360,000. Voisard Asset Management Group Inc. purchased a new position in Bank of America in the 4th quarter valued at approximately $187,000. Madison Wealth Partners Inc grew its stake in Bank of America by 161.8% in the 4th quarter. Madison Wealth Partners Inc now owns 25,920 shares of the financial services provider’s stock valued at $873,000 after buying an additional 16,021 shares in the last quarter. Spouting Rock Asset Management LLC purchased a new position in Bank of America in the 4th quarter valued at approximately $425,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Bank of America by 360.9% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 37,290,357 shares of the financial services provider’s stock valued at $1,255,514,000 after buying an additional 29,198,846 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.
Bank of America Stock Performance
Bank of America stock opened at $39.24 on Friday. The firm has a fifty day simple moving average of $38.23 and a two-hundred day simple moving average of $35.43. Bank of America Co. has a twelve month low of $24.96 and a twelve month high of $40.19. The company has a market capitalization of $306.87 billion, a PE ratio of 13.58, a P/E/G ratio of 1.74 and a beta of 1.36. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12.
Bank of America (NYSE:BAC – Get Free Report) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The firm had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $25.49 billion. During the same quarter in the previous year, the company earned $0.94 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. Research analysts expect that Bank of America Co. will post 3.23 EPS for the current year.
Bank of America Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, June 7th. Bank of America’s payout ratio is 33.22%.
Analysts Set New Price Targets
A number of research firms recently weighed in on BAC. Oppenheimer lifted their price objective on shares of Bank of America from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. Jefferies Financial Group boosted their price target on shares of Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Evercore ISI boosted their price target on shares of Bank of America from $37.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Piper Sandler boosted their price target on shares of Bank of America from $35.00 to $37.00 and gave the company an “underweight” rating in a research report on Tuesday, June 4th. Finally, Wolfe Research raised shares of Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a report on Friday, April 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $39.79.
Read Our Latest Stock Analysis on Bank of America
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.
Featured Articles
Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Co. (NYSE:BAC – Free Report).
Receive News & Ratings for Bank of America Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Bank of America and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
