Bank of America Co. (NYSE:BAC) Position Raised by Aveo Capital Partners LLC

Aveo Capital Partners LLC increased its position in shares of Bank of America Co. (NYSE:BAC) by 2.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,886 shares of the financial services provider’s stock after purchasing an additional 283 shares during the period. Aveo Capital Partners LLC’s holdings in Bank of America were worth $434,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BAC. Two Sigma Advisers LP raised its holdings in Bank of America by 31,021.6% during the third quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider’s stock worth $405,049,000 after purchasing an additional 10,175,100 shares in the last quarter. Swedbank AB raised its holdings in Bank of America by 81.4% during the fourth quarter. Swedbank AB now owns 12,776,184 shares of the financial services provider’s stock worth $561,513,000 after purchasing an additional 5,733,810 shares in the last quarter. KBC Group NV raised its holdings in Bank of America by 130.9% during the fourth quarter. KBC Group NV now owns 9,692,279 shares of the financial services provider’s stock worth $425,976,000 after purchasing an additional 5,493,817 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Bank of America by 193.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider’s stock worth $301,898,000 after purchasing an additional 5,015,378 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Bank of America by 3,550.7% during the third quarter. International Assets Investment Management LLC now owns 4,547,788 shares of the financial services provider’s stock worth $1,804,560,000 after purchasing an additional 4,423,215 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Up 1.4 %

NYSE BAC opened at $46.98 on Friday. Bank of America Co. has a 1-year low of $32.49 and a 1-year high of $48.08. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $360.47 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.29 and a beta of 1.33. The firm’s fifty day simple moving average is $45.75 and its 200-day simple moving average is $43.09.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates 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 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. Bank of America’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bank of America Co. will post 3.69 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BAC shares. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Wells Fargo & Company upped their price target on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Truist Financial upped their price target on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, January 17th. Barclays upped their price target on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Evercore ISI dropped their price target on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and an average target price of $48.58.

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.