Bank of America Co. (NYSE:BAC) is Huber Capital Management LLC’s 8th Largest Position

Huber Capital Management LLC grew its position in shares of Bank of America Co. (NYSE:BAC) by 6.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 333,459 shares of the financial services provider’s stock after buying an additional 20,000 shares during the quarter. Bank of America comprises about 2.9% of Huber Capital Management LLC’s investment portfolio, making the stock its 8th largest position. Huber Capital Management LLC’s holdings in Bank of America were worth $14,656,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Graney & King LLC bought a new position in Bank of America in the fourth quarter worth about $25,000. Collier Financial bought a new position in shares of Bank of America in the 4th quarter worth approximately $25,000. Fairway Wealth LLC bought a new position in shares of Bank of America in the 4th quarter worth approximately $29,000. Highline Wealth Partners LLC boosted its position in shares of Bank of America by 152.7% during 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 in the last quarter. Finally, Mascoma Wealth Management LLC raised its holdings in Bank of America by 68.2% in the fourth quarter. Mascoma Wealth Management LLC now owns 890 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 361 shares in the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BAC shares. HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. Morgan Stanley lifted 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. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Barclays boosted their price objective on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Piper Sandler lowered their price objective on 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. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.31.

Bank of America Stock Up 0.9 %

NYSE BAC opened at $41.87 on Thursday. Bank of America Co. has a one year low of $34.15 and a one year high of $48.08. The company has a market capitalization of $318.33 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.21 and a beta of 1.32. The stock has a 50 day moving average price of $44.17 and a 200-day moving average price of $43.96. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for 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. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, equities analysts predict that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.04 annualized dividend and a yield of 2.48%. Bank of America’s 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.