Bull Oak Capital LLC Invests $219,000 in Bank of America Co. (NYSE:BAC)

Bull Oak Capital LLC bought a new stake in Bank of America Co. (NYSE:BAC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,977 shares of the financial services provider’s stock, valued at approximately $219,000. Bank of America comprises 0.1% of Bull Oak Capital LLC’s investment portfolio, making the stock its 23rd biggest position.

Other large investors also recently made changes to their positions in the company. Collier Financial bought a new position in Bank of America during the 4th quarter worth $25,000. Life Planning Partners Inc grew its stake in shares of Bank of America by 3,883.2% in the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 545,936 shares in the last quarter. Kennebec Savings Bank bought a new position in Bank of America during the third quarter worth about $29,000. Highline Wealth Partners LLC raised its stake 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 in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in Bank of America in the 4th quarter valued at about $42,000. Institutional investors own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BAC shares. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. Piper Sandler cut their price objective on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. UBS Group raised shares of 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. Keefe, Bruyette & Woods upped their price target on shares of Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Finally, Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $54.00 in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Up 0.0 %

Shares of NYSE BAC opened at $43.96 on Thursday. The company has a 50 day simple moving average of $45.72 and a 200 day simple moving average of $43.50. 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 $33.71 and a 1 year high of $48.08. The firm has a market cap of $337.28 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.21 and a beta of 1.33.

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

Bank of America Dividend Announcement

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

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.