Twin City Private Wealth LLC Buys 537 Shares of Bank of America Co. (NYSE:BAC)

Twin City Private Wealth LLC lifted its stake in Bank of America Co. (NYSE:BAC) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,642 shares of the financial services provider’s stock after purchasing an additional 537 shares during the quarter. Twin City Private Wealth LLC’s holdings in Bank of America were worth $512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Lederer & Associates Investment Counsel CA boosted its position in shares of Bank of America by 1.1% in the 4th quarter. Lederer & Associates Investment Counsel CA now owns 20,000 shares of the financial services provider’s stock worth $879,000 after purchasing an additional 217 shares in the last quarter. Avalon Trust Co boosted its position in shares of Bank of America by 14.6% in the 4th quarter. Avalon Trust Co now owns 1,719 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 219 shares in the last quarter. Prossimo Advisors LLC raised its holdings in Bank of America by 2.5% in the 4th quarter. Prossimo Advisors LLC now owns 8,880 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 220 shares during the last quarter. Marino Stram & Associates LLC raised its holdings in Bank of America by 1.7% in the 4th quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock worth $580,000 after acquiring an additional 222 shares during the last quarter. Finally, Keudell Morrison Wealth Management raised its holdings in Bank of America by 2.8% in the 4th quarter. Keudell Morrison Wealth Management now owns 8,291 shares of the financial services provider’s stock worth $364,000 after acquiring an additional 223 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BAC. Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Piper Sandler decreased their price objective on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Baird R W upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Finally, Truist Financial boosted their target price on shares of Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.64.

Bank of America Trading Down 0.0 %

Shares of BAC stock opened at $42.47 on Monday. Bank of America Co. has a 1 year low of $34.15 and a 1 year high of $48.08. The firm has a fifty day moving average price of $44.81 and a 200-day moving average price of $43.81. 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 $322.88 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.21 and a beta of 1.32.

Bank of America (NYSE:BAC) last issued its earnings results 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. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. Bank of America’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.70 EPS. As a group, equities analysts predict that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s dividend payout ratio is currently 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.