Schear Investment Advisers LLC Acquires 397 Shares of Bank of America Co. (NYSE:BAC)

Schear Investment Advisers LLC grew its position in shares of Bank of America Co. (NYSE:BAC) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,683 shares of the financial services provider’s stock after buying an additional 397 shares during the period. Schear Investment Advisers LLC’s holdings in Bank of America were worth $1,041,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Accent Capital Management LLC grew its holdings in shares of Bank of America by 43.0% during the third quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider’s stock worth $1,567,000 after purchasing an additional 11,873 shares in the last quarter. Summit Global Investments grew its holdings in shares of Bank of America by 237.6% during the 3rd quarter. Summit Global Investments now owns 51,278 shares of the financial services provider’s stock worth $2,035,000 after acquiring an additional 36,089 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Bank of America by 1.2% during 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 bought a new stake in Bank of America during the 4th quarter valued at about $798,000. Finally, Baker Avenue Asset Management LP lifted its holdings in shares of Bank of America by 125.8% during the third quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider’s stock valued at $2,421,000 after purchasing an additional 33,983 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on BAC. 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 report on Friday, January 17th. HSBC raised shares of 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. Wells Fargo & Company boosted their target price on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. 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. Finally, Truist Financial upped their price target on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Stock Performance

Shares of BAC opened at $46.80 on Wednesday. Bank of America Co. has a one year low of $32.35 and a one year high of $48.08. 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 company has a market cap of $359.08 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.29 and a beta of 1.33. The firm has a 50-day moving average of $45.77 and a 200-day moving average of $42.96.

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 for the quarter, topping the consensus estimate of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same quarter in the previous year, the company earned $0.70 EPS. The business’s revenue was up 15.0% on a year-over-year basis. As a group, equities analysts forecast that Bank of America Co. will post 3.69 earnings per share for the current year.

Bank of America Dividend Announcement

The business also recently disclosed 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. This represents a $1.04 annualized dividend and a yield of 2.22%. The ex-dividend date is Friday, March 7th. 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.