Bank of America Co. (NYSE:BAC) Shares Bought by Oarsman Capital Inc.

Oarsman Capital Inc. grew its position in Bank of America Co. (NYSE:BAC) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 44,781 shares of the financial services provider’s stock after acquiring an additional 367 shares during the quarter. Oarsman Capital Inc.’s holdings in Bank of America were worth $1,968,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Collier Financial purchased a new stake in shares of Bank of America during the fourth quarter worth $25,000. Life Planning Partners Inc raised its holdings in 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. Graney & King LLC acquired a new position in shares of Bank of America during the 4th quarter worth approximately $25,000. Fairway Wealth LLC purchased a new stake in shares of Bank of America in the fourth quarter valued at approximately $29,000. Finally, Highline Wealth Partners LLC increased its holdings 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 valued at $37,000 after purchasing an additional 510 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BAC shares. UBS Group upgraded 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 report on Tuesday, January 7th. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, January 7th. Citigroup decreased their target price on shares of Bank of America from $54.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, March 24th. Truist Financial dropped their price target on shares of Bank of America from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Friday. Finally, Baird R W upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.31.

Bank of America Stock Down 7.7 %

Shares of NYSE:BAC opened at $34.37 on Friday. The firm has a 50 day simple moving average of $43.74 and a 200-day simple moving average of $43.88. Bank of America Co. has a twelve month low of $33.67 and a twelve month high of $48.08. 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 company has a market capitalization of $261.32 billion, a PE ratio of 10.67, a P/E/G ratio of 1.21 and a beta of 1.32.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate 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 return on equity of 10.29% and a net margin of 14.10%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 earnings per share. On average, equities analysts predict that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were paid a $0.26 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 3.03%. Bank of America’s dividend payout ratio is presently 32.30%.

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.