Bank of America Co. (NYSE:BAC) Shares Bought by Diversified Enterprises LLC

Diversified Enterprises LLC raised its holdings in Bank of America Co. (NYSE:BAC) by 17.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,749 shares of the financial services provider’s stock after purchasing an additional 3,338 shares during the period. Diversified Enterprises LLC’s holdings in Bank of America were worth $1,000,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in BAC. Collier Financial acquired a new position in shares of Bank of America in the 4th quarter valued at approximately $25,000. Life Planning Partners Inc increased 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 bought a new stake in shares of Bank of America in the 4th quarter valued at approximately $29,000. Highline Wealth Partners LLC increased its holdings in shares of 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 valued at $37,000 after acquiring an additional 510 shares during the last quarter. Finally, Mascoma Wealth Management LLC increased its holdings in shares of Bank of America by 68.2% in the 4th quarter. Mascoma Wealth Management LLC now owns 890 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 361 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BAC. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Truist Financial boosted their price target on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a 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. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. Finally, Baird R W upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.64.

Bank of America Trading Up 3.3 %

Shares of NYSE BAC opened at $40.97 on Friday. Bank of America Co. has a 12 month low of $34.15 and a 12 month high of $48.08. The company has a market cap of $311.45 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 1.21 and a beta of 1.32. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $45.19 and a 200-day simple moving average of $43.71.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $25.12 billion. During the same period in the prior year, the business posted $0.70 earnings per share. Bank of America’s revenue was up 15.0% compared to the same quarter last year. Sell-side analysts predict that Bank of America Co. will post 3.7 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. Stockholders of record on Friday, March 7th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio is 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.