Bank of America Co. (NYSE:BAC) Shares Acquired by D Orazio & Associates Inc.

D Orazio & Associates Inc. boosted its holdings in Bank of America Co. (NYSE:BAC) by 10.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,775 shares of the financial services provider’s stock after purchasing an additional 639 shares during the quarter. D Orazio & Associates Inc.’s holdings in Bank of America were worth $298,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BAC. Accent Capital Management LLC increased its holdings in shares of Bank of America by 43.0% in the 3rd quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider’s stock valued at $1,567,000 after acquiring an additional 11,873 shares during the last quarter. Summit Global Investments boosted its holdings in Bank of America by 237.6% in the third quarter. Summit Global Investments now owns 51,278 shares of the financial services provider’s stock valued at $2,035,000 after purchasing an additional 36,089 shares in the last quarter. Geode Capital Management LLC increased its stake in 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 valued at $5,546,871,000 after purchasing an additional 1,700,141 shares during the last quarter. Clarendon Private LLC acquired a new stake in Bank of America during the fourth quarter worth approximately $798,000. Finally, Baker Avenue Asset Management LP boosted its holdings in shares of Bank of America by 125.8% in the 3rd quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider’s stock valued at $2,421,000 after buying an additional 33,983 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, January 7th. Morgan Stanley raised their price target 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. Truist Financial boosted 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, Oppenheimer raised their target price on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Stock Down 0.7 %

BAC opened at $47.43 on Friday. The business has a 50 day simple moving average of $45.77 and a 200-day simple moving average of $42.88. Bank of America Co. has a 12 month low of $32.35 and a 12 month high of $48.08. The stock has a market capitalization of $363.89 billion, a P/E ratio of 14.73, a P/E/G ratio of 1.29 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.

Bank of America (NYSE:BAC) last issued its 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 net margin of 14.10% and a return on equity of 10.29%. The business’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 EPS. On average, equities analysts anticipate that Bank of America Co. will post 3.69 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued 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 2.19%. Bank of America’s dividend payout ratio (DPR) is presently 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.