4,886 Shares in Bank of America Co. (NYSE:BAC) Bought by Crowley Wealth Management Inc.

Crowley Wealth Management Inc. acquired a new stake in shares of Bank of America Co. (NYSE:BAC) in the 4th quarter, Holdings Channel reports. The firm acquired 4,886 shares of the financial services provider’s stock, valued at approximately $215,000.

Several other hedge funds have also recently made changes to their positions in the business. Collier Financial bought a new stake in Bank of America during the fourth quarter worth approximately $25,000. Life Planning Partners Inc boosted its holdings in shares of Bank of America by 3,883.2% in the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 545,936 shares during the period. Fairway Wealth LLC bought a new position in shares of Bank of America during the 4th quarter valued at approximately $29,000. Highline Wealth Partners LLC raised its holdings in Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after buying an additional 510 shares during the period. Finally, Mascoma Wealth Management LLC boosted its stake in Bank of America by 68.2% during the fourth quarter. Mascoma Wealth Management LLC now owns 890 shares of the financial services provider’s stock worth $39,000 after buying an additional 361 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Stock Down 0.0 %

Shares of Bank of America stock opened at $42.47 on Friday. The company has a market cap of $322.88 billion, a P/E ratio of 13.19, a PEG ratio of 1.21 and a beta of 1.32. Bank of America Co. has a 52-week low of $34.15 and a 52-week 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’s 50 day moving average price is $44.81 and its 200-day moving average price is $43.79.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the prior year, the business posted $0.70 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, sell-side analysts predict that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.26 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.45%. Bank of America’s dividend payout ratio (DPR) is 32.30%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BAC shares. Barclays increased their target price on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Piper Sandler dropped their price objective on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, January 17th. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Robert W. Baird raised shares of Bank of America from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $45.00 to $50.00 in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.64.

Bank of America Company 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.