5T Wealth LLC Purchases New Position in Bank of America Co. (NYSE:BAC)

5T Wealth LLC acquired a new stake in shares of Bank of America Co. (NYSE:BAC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,834 shares of the financial services provider’s stock, valued at approximately $212,000.

Several other large investors have also recently bought and sold shares of the company. Lederer & Associates Investment Counsel CA lifted its position in shares of Bank of America by 1.1% during the 4th quarter. Lederer & Associates Investment Counsel CA now owns 20,000 shares of the financial services provider’s stock valued at $879,000 after buying an additional 217 shares during the last quarter. Marino Stram & Associates LLC lifted its holdings in Bank of America by 1.7% during the fourth quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock valued at $580,000 after purchasing an additional 222 shares during the last quarter. Keudell Morrison Wealth Management boosted its position in Bank of America by 2.8% during the fourth quarter. Keudell Morrison Wealth Management now owns 8,291 shares of the financial services provider’s stock worth $364,000 after purchasing an additional 223 shares during the period. Traveka Wealth LLC boosted its position in Bank of America by 2.7% during the fourth quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 226 shares during the period. Finally, Consolidated Planning Corp increased its stake in shares of Bank of America by 2.9% in the fourth quarter. Consolidated Planning Corp now owns 8,092 shares of the financial services provider’s stock worth $356,000 after purchasing an additional 226 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 Monday. The firm has a market cap 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. Bank of America Co. has a 1-year low of $32.49 and a 1-year high of $48.08. The stock has a 50-day moving average of $45.75 and a 200-day moving average of $43.10. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC) last announced its quarterly earnings data 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. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. The business’s revenue was up 15.0% on a year-over-year basis. As a group, sell-side analysts forecast that Bank of America Co. will post 3.69 EPS for the current year.

Bank of America Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Piper Sandler reduced their price target 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 Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price target on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Barclays raised their price objective on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Bank of America has a consensus rating of “Moderate Buy” and an average price target of $48.58.

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.