Bank of America Co. (NYSE:BAC) Shares Acquired by LM Advisors LLC

LM Advisors LLC grew its stake in shares of Bank of America Co. (NYSE:BAC) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,922 shares of the financial services provider’s stock after purchasing an additional 1,981 shares during the period. LM Advisors LLC’s holdings in Bank of America were worth $2,282,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Collier Financial purchased a new position in shares of Bank of America in the fourth quarter worth approximately $25,000. Life Planning Partners Inc grew its position in Bank of America by 3,883.2% during 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 in the last quarter. Graney & King LLC acquired a new stake in Bank of America during the 4th quarter valued at $25,000. Fairway Wealth LLC purchased a new stake in shares of Bank of America in the fourth quarter valued at $29,000. Finally, Highline Wealth Partners LLC boosted its position in shares of Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after buying an additional 510 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

BAC has been the subject of several research analyst reports. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. Truist Financial increased their price target on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Piper Sandler lowered 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 report on Friday, January 17th. Keefe, Bruyette & Woods increased their target price on shares of Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Citigroup decreased their target price on shares of Bank of America from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Monday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of America has a consensus rating of “Moderate Buy” and an average price target of $48.45.

Bank of America Stock Performance

Shares of BAC opened at $42.81 on Thursday. The company has a market capitalization of $325.45 billion, a PE ratio of 13.29, 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. Bank of America Co. has a one year low of $34.15 and a one year high of $48.08. The company’s fifty day moving average price is $44.63 and its 200 day moving average price is $43.86.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate 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 firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 EPS. As a group, analysts expect that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders 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 annualized dividend and a dividend yield of 2.43%. Bank of America’s payout ratio is 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.