Bank of America Co. (NYSE:BAC) Position Increased by First Command Advisory Services Inc.

First Command Advisory Services Inc. boosted its holdings in shares of Bank of America Co. (NYSE:BAC) by 8.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 25,657 shares of the financial services provider’s stock after buying an additional 2,019 shares during the period. First Command Advisory Services Inc.’s holdings in Bank of America were worth $1,128,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in BAC. Collier Financial acquired a new stake in shares of Bank of America during the 4th quarter valued at $25,000. Life Planning Partners Inc boosted its position in Bank of America by 3,883.2% during the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 545,936 shares during the last quarter. Kennebec Savings Bank purchased a new position in Bank of America in the third quarter valued at about $29,000. Highline Wealth Partners LLC increased its position in Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 510 shares during the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Bank of America during the 4th quarter worth about $42,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Up 0.0 %

BAC stock opened at $43.96 on Thursday. The business’s 50 day simple moving average is $45.72 and its 200 day simple moving average is $43.50. Bank of America Co. has a 1-year low of $33.71 and a 1-year high of $48.08. The firm has a market capitalization of $337.28 billion, a PE ratio of 13.65, a PEG ratio of 1.21 and a beta of 1.33. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 earnings per share. As a group, research analysts anticipate that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a yield of 2.37%. Bank of America’s payout ratio is currently 32.30%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Oppenheimer boosted their price target on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Truist Financial raised their price target on shares of Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, January 17th. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and raised their target price for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Barclays increased their price target on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Wells Fargo & Company raised their target price on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $48.58.

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.