Astoria Portfolio Advisors LLC. Purchases 339 Shares of Bank of America Co. (NYSE:BAC)

Astoria Portfolio Advisors LLC. grew its position in shares of Bank of America Co. (NYSE:BAC) by 0.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 211,927 shares of the financial services provider’s stock after purchasing an additional 339 shares during the period. Bank of America makes up about 2.9% of Astoria Portfolio Advisors LLC.’s holdings, making the stock its 8th largest holding. Astoria Portfolio Advisors LLC.’s holdings in Bank of America were worth $7,619,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Rossmore Private Capital lifted its holdings in shares of Bank of America by 1.2% during the 4th quarter. Rossmore Private Capital now owns 26,537 shares of the financial services provider’s stock valued at $894,000 after acquiring an additional 303 shares in the last quarter. Chemistry Wealth Management LLC lifted its holdings in shares of Bank of America by 0.3% during the 1st quarter. Chemistry Wealth Management LLC now owns 109,541 shares of the financial services provider’s stock valued at $4,154,000 after acquiring an additional 310 shares in the last quarter. Regent Peak Wealth Advisors LLC lifted its holdings in shares of Bank of America by 3.2% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 9,976 shares of the financial services provider’s stock valued at $336,000 after acquiring an additional 314 shares in the last quarter. Kennedy Investment Group lifted its holdings in shares of Bank of America by 0.6% during the 4th quarter. Kennedy Investment Group now owns 58,007 shares of the financial services provider’s stock valued at $1,953,000 after acquiring an additional 321 shares in the last quarter. Finally, Private Ocean LLC lifted its holdings in Bank of America by 34.0% in the 4th quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock worth $43,000 after buying an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of NYSE:BAC opened at $39.77 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. Bank of America Co. has a fifty-two week low of $24.96 and a fifty-two week high of $40.34. The firm has a 50-day simple moving average of $38.91 and a 200 day simple moving average of $36.06. The company has a market cap of $311.02 billion, a PE ratio of 13.76, a P/E/G ratio of 1.50 and a beta of 1.36.

Bank of America (NYSE:BAC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The firm had revenue of $25.82 billion during the quarter, compared to analyst estimates of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. Bank of America’s revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 EPS. On average, sell-side analysts anticipate that Bank of America Co. will post 3.22 EPS for the current year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Friday, June 7th. Bank of America’s payout ratio is 33.22%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BAC shares. Evercore ISI boosted their price objective on shares of Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Keefe, Bruyette & Woods upgraded shares of Bank of America from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $37.00 to $46.00 in a report on Friday, June 14th. StockNews.com lowered shares of Bank of America from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Wolfe Research upgraded shares of Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a report on Friday, April 19th. Finally, Piper Sandler boosted their target price on shares of Bank of America from $35.00 to $37.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $39.79.

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.