Weil Company Inc. Takes $214,000 Position in Bank of America Co. (NYSE:BAC)

Weil Company Inc. purchased a new position in Bank of America Co. (NYSE:BAC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,877 shares of the financial services provider’s stock, valued at approximately $214,000.

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Bank of America by 1.2% in the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock worth $5,546,871,000 after buying an additional 1,700,141 shares during the period. Bank of New York Mellon Corp grew its position in Bank of America by 4.9% in the 4th quarter. Bank of New York Mellon Corp now owns 59,613,837 shares of the financial services provider’s stock valued at $2,620,028,000 after acquiring an additional 2,806,927 shares during the last quarter. Fisher Asset Management LLC increased its stake in Bank of America by 4.0% in the third quarter. Fisher Asset Management LLC now owns 45,215,832 shares of the financial services provider’s stock worth $1,794,164,000 after purchasing an additional 1,731,003 shares during the period. Sanders Capital LLC lifted its position in shares of Bank of America by 2.8% during the third quarter. Sanders Capital LLC now owns 22,341,213 shares of the financial services provider’s stock worth $886,499,000 after purchasing an additional 601,211 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its stake in shares of Bank of America by 0.4% during the third quarter. Diamond Hill Capital Management Inc. now owns 17,042,952 shares of the financial services provider’s stock valued at $676,264,000 after purchasing an additional 59,853 shares during the period. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Down 1.1 %

Bank of America stock opened at $43.97 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $337.35 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.21 and a beta of 1.33. The business has a fifty day moving average price of $45.71 and a 200-day moving average price of $43.50. Bank of America Co. has a 1-year low of $33.53 and a 1-year high of $48.08.

Bank of America (NYSE:BAC) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. Bank of America’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period last year, the business earned $0.70 EPS. Equities research analysts forecast that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 dividend on an annualized basis and a yield of 2.37%. Bank of America’s dividend payout ratio (DPR) is 32.30%.

Analyst Upgrades and Downgrades

BAC has been the topic of several recent analyst reports. Morgan Stanley raised their price target on shares of 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. Keefe, Bruyette & Woods raised 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. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and boosted their price target for the company from $46.00 to $54.00 in a report on Friday, November 8th. Truist Financial raised their price objective on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Finally, Piper Sandler lowered their target price on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

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.