Bank of America Co. (NYSE:BAC) Stock Holdings Increased by Blue Barn Wealth LLC

Blue Barn Wealth LLC raised its holdings in shares of Bank of America Co. (NYSE:BAC) by 5.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,585 shares of the financial services provider’s stock after purchasing an additional 379 shares during the quarter. Blue Barn Wealth LLC’s holdings in Bank of America were worth $333,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BAC. Lindbrook Capital LLC grew its holdings in shares of Bank of America by 2.0% in the 4th quarter. Lindbrook Capital LLC now owns 58,835 shares of the financial services provider’s stock worth $2,586,000 after acquiring an additional 1,167 shares during the last quarter. Inceptionr LLC increased its stake in Bank of America by 41.4% in the 4th quarter. Inceptionr LLC now owns 28,065 shares of the financial services provider’s stock worth $1,233,000 after purchasing an additional 8,223 shares in the last quarter. Promus Capital LLC purchased a new position in Bank of America in the 4th quarter worth about $134,000. First Business Financial Services Inc. raised its holdings in Bank of America by 2.9% during the 4th quarter. First Business Financial Services Inc. now owns 60,947 shares of the financial services provider’s stock worth $2,679,000 after buying an additional 1,715 shares during the period. Finally, Cullen Frost Bankers Inc. lifted its stake in Bank of America by 3.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 990,642 shares of the financial services provider’s stock valued at $43,539,000 after buying an additional 29,015 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

BAC has been the subject of several research analyst reports. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Tuesday, January 7th. Barclays raised their price objective on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and upped their target price for the company from $46.00 to $54.00 in a report on Friday, November 8th. Truist Financial raised their price target on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Finally, Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Stock Down 0.9 %

Bank of America stock opened at $42.27 on Thursday. 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 Co. has a fifty-two week low of $34.15 and a fifty-two week high of $48.08. The firm has a fifty day moving average price of $45.73 and a two-hundred day moving average price of $43.69. The firm has a market cap of $321.46 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 1.21 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. The firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 EPS. As a group, analysts forecast that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The business 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. This represents a $1.04 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s payout ratio is presently 32.30%.

About Bank of America

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.