Harvest Fund Management Co. Ltd Has $1.45 Million Holdings in Bank of America Co. (NYSE:BAC)

Harvest Fund Management Co. Ltd raised its holdings in Bank of America Co. (NYSE:BAC) by 122.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,925 shares of the financial services provider’s stock after buying an additional 18,104 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Bank of America were worth $1,448,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Lederer & Associates Investment Counsel CA lifted its stake in Bank of America by 1.1% in the fourth quarter. Lederer & Associates Investment Counsel CA now owns 20,000 shares of the financial services provider’s stock valued at $879,000 after buying an additional 217 shares during the period. Avalon Trust Co lifted its stake in Bank of America by 14.6% in the fourth quarter. Avalon Trust Co now owns 1,719 shares of the financial services provider’s stock valued at $76,000 after buying an additional 219 shares during the period. Prossimo Advisors LLC lifted its stake in Bank of America by 2.5% in the fourth quarter. Prossimo Advisors LLC now owns 8,880 shares of the financial services provider’s stock valued at $390,000 after buying an additional 220 shares during the period. Marino Stram & Associates LLC lifted its stake in Bank of America by 1.7% in the fourth quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock valued at $580,000 after buying an additional 222 shares during the period. Finally, Keudell Morrison Wealth Management lifted its stake in Bank of America by 2.8% in the fourth quarter. Keudell Morrison Wealth Management now owns 8,291 shares of the financial services provider’s stock valued at $364,000 after buying an additional 223 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Stock Up 1.4 %

Shares of NYSE:BAC opened at $42.24 on Thursday. The company has a market capitalization of $321.10 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The business has a fifty day moving average price of $44.94 and a two-hundred day moving average price of $43.77. Bank of America Co. has a 1 year low of $34.15 and a 1 year high of $48.08.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 EPS. Analysts forecast that Bank of America Co. will post 3.7 earnings per share 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. Stockholders of record on Friday, March 7th will be paid 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 dividend yield of 2.46%. Bank of America’s payout ratio is 32.30%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Morgan Stanley upped 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. Piper Sandler lowered their target price on Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Barclays upped their target price on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Baird R W raised Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. Finally, UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and upped their target price for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.64.

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.