Onefund LLC Buys 505 Shares of Bank of America Co. (NYSE:BAC)

Onefund LLC lifted its stake in shares of Bank of America Co. (NYSE:BAC) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,239 shares of the financial services provider’s stock after purchasing an additional 505 shares during the quarter. Bank of America accounts for about 0.8% of Onefund LLC’s holdings, making the stock its 25th largest position. Onefund LLC’s holdings in Bank of America were worth $802,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Collier Financial purchased a new position in Bank of America during the fourth quarter worth about $25,000. Kennebec Savings Bank purchased a new position in Bank of America during the third quarter worth about $29,000. Highline Wealth Partners LLC grew its position in Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after buying an additional 510 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Bank of America during the fourth quarter worth about $42,000. Finally, POM Investment Strategies LLC grew its position in Bank of America by 1,306.5% during the fourth quarter. POM Investment Strategies LLC now owns 1,083 shares of the financial services provider’s stock worth $48,000 after buying an additional 1,006 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BAC has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Truist Financial upped their price objective on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, January 17th. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the company from $46.00 to $54.00 in a research note on Friday, November 8th. Finally, Keefe, Bruyette & Woods upped their price target on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Stock Up 4.7 %

BAC stock opened at $46.19 on Friday. Bank of America Co. has a twelve month low of $34.03 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. The firm has a market cap of $354.37 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.21 and a beta of 1.33. The business has a 50 day moving average of $45.78 and a 200 day moving average of $43.56.

Bank of America (NYSE:BAC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same quarter last year, the company earned $0.70 EPS. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, research analysts forecast that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, March 7th. This represents a $1.04 annualized dividend and a yield of 2.25%. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

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.