Bank of America Co. (NYSE:BAC) Shares Purchased by Gold Investment Management Ltd.

Gold Investment Management Ltd. boosted its position in shares of Bank of America Co. (NYSE:BAC) by 0.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 90,920 shares of the financial services provider’s stock after acquiring an additional 292 shares during the quarter. Bank of America comprises about 1.7% of Gold Investment Management Ltd.’s portfolio, making the stock its 17th largest position. Gold Investment Management Ltd.’s holdings in Bank of America were worth $3,996,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Collier Financial purchased a new stake in Bank of America in the fourth quarter valued at 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 valued at $25,000 after acquiring an additional 545,936 shares during the last quarter. Fairway Wealth LLC purchased a new stake in shares of Bank of America in the 4th quarter valued at $29,000. Highline Wealth Partners LLC raised its holdings in shares of 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 purchasing an additional 510 shares during the last quarter. Finally, Mascoma Wealth Management LLC lifted its position 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 valued at $39,000 after purchasing an additional 361 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

BAC opened at $40.97 on Monday. Bank of America Co. has a twelve month low of $34.15 and a twelve month high of $48.08. The firm has a market capitalization of $311.45 billion, a PE ratio of 12.72, a PEG ratio of 1.21 and a beta of 1.32. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm’s 50-day moving average price is $45.19 and its 200 day moving average price is $43.76.

Bank of America (NYSE:BAC) last posted its quarterly earnings results 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. 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 period in the prior year, the business earned $0.70 earnings per share. The business’s revenue was up 15.0% compared to the same quarter last year. As a group, sell-side analysts expect that Bank of America Co. will post 3.7 EPS for the current fiscal 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 given 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 2.54%. Bank of America’s payout ratio is 32.30%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Evercore ISI cut their price target on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Barclays boosted 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. Piper Sandler dropped their price objective on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Baird R W upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.