Bank of America Co. (NYSE:BAC) Shares Acquired by D Orazio & Associates Inc.

D Orazio & Associates Inc. increased its position in shares of Bank of America Co. (NYSE:BAC) by 10.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,775 shares of the financial services provider’s stock after purchasing an additional 639 shares during the quarter. D Orazio & Associates Inc.’s holdings in Bank of America were worth $298,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BAC. Accent Capital Management LLC boosted its holdings in Bank of America by 43.0% in the third quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider’s stock valued at $1,567,000 after purchasing an additional 11,873 shares during the last quarter. Summit Global Investments increased its stake in Bank of America by 237.6% during the 3rd quarter. Summit Global Investments now owns 51,278 shares of the financial services provider’s stock worth $2,035,000 after buying an additional 36,089 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Bank of America by 1.2% during the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock worth $5,546,871,000 after purchasing an additional 1,700,141 shares in the last quarter. Clarendon Private LLC acquired a new stake in Bank of America during the 4th quarter worth $798,000. Finally, Baker Avenue Asset Management LP grew its holdings in shares of Bank of America by 125.8% during the third quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider’s stock worth $2,421,000 after buying an additional 33,983 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Down 0.7 %

Shares of NYSE:BAC opened at $47.43 on Friday. The firm’s 50-day moving average is $45.77 and its two-hundred day moving average is $42.88. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. Bank of America Co. has a 1 year low of $32.35 and a 1 year high of $48.08. The firm has a market capitalization of $363.89 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.29 and a beta of 1.33.

Bank of America (NYSE:BAC) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.70 EPS. Analysts predict that Bank of America Co. will post 3.69 EPS for the current 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 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 yield of 2.19%. Bank of America’s payout ratio is 32.30%.

Analyst Ratings Changes

BAC has been the topic of a number of recent research reports. Piper Sandler lowered their price target on shares of 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 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. Phillip Securities raised Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a research note on Friday, October 18th. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and raised their target price for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their price target 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. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.58.

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.