Bank of America Co. (NYSE:BAC) Shares Purchased by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC lifted its holdings in Bank of America Co. (NYSE:BAC) by 3.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,114 shares of the financial services provider’s stock after purchasing an additional 6,067 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Bank of America were worth $9,278,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BAC. Collier Financial purchased a new position in Bank of America in the 4th quarter worth $25,000. Life Planning Partners Inc raised its stake 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 worth $25,000 after acquiring an additional 545,936 shares during the last quarter. Kennebec Savings Bank purchased a new position in Bank of America in the 3rd quarter worth $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 acquiring an additional 510 shares during the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new position in Bank of America in the 4th quarter worth $42,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

BAC has been the subject of a number of research analyst reports. Morgan Stanley raised their target price on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Barclays lifted their price objective on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research note 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. Truist Financial lifted their price objective on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Finally, Piper Sandler reduced their price objective on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Trading Down 2.2 %

BAC stock opened at $41.36 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 12-month low of $34.15 and a 12-month high of $48.08. The stock has a market cap of $314.49 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 1.21 and a beta of 1.33. The business’s 50-day moving average is $45.67 and its 200 day moving average is $43.67.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (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 analysts’ expectations of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Bank of America’s revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 EPS. On average, sell-side analysts anticipate that Bank of America Co. will post 3.7 EPS for the current fiscal 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 2.51%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio is currently 32.30%.

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.