Lion Street Advisors LLC Buys 1,012 Shares of Bank of America Co. (NYSE:BAC)

Lion Street Advisors LLC grew its position in shares of Bank of America Co. (NYSE:BAC) by 6.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,078 shares of the financial services provider’s stock after buying an additional 1,012 shares during the quarter. Lion Street Advisors LLC’s holdings in Bank of America were worth $751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Kennebec Savings Bank bought a new stake in Bank of America in the 3rd quarter valued at $29,000. Highline Wealth Partners LLC lifted its position in Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after buying an additional 510 shares during the last quarter. Christopher J. Hasenberg Inc boosted its stake in shares of Bank of America by 525.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 852 shares during the period. Retirement Wealth Solutions LLC purchased a new stake in Bank of America in the 4th quarter worth about $42,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Bank of America during the 3rd quarter worth approximately $45,000. Institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and increased their price objective for the company from $46.00 to $54.00 in a research report on Friday, November 8th. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, January 7th. Oppenheimer lifted their target price on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, Phillip Securities upgraded Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a research report on Friday, October 18th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Stock Up 1.1 %

Shares of NYSE:BAC opened at $46.73 on Wednesday. The company has a market capitalization of $358.57 billion, a PE ratio of 14.51, a P/E/G ratio of 1.26 and a beta of 1.33. The company’s fifty day moving average is $45.79 and its 200-day moving average is $42.82. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. Bank of America Co. has a 52 week low of $32.35 and a 52 week high of $48.08.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $25.12 billion. During the same period in the prior year, the firm earned $0.70 earnings per share. Bank of America’s revenue was up 15.0% compared to the same quarter last year. Equities research analysts predict that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a $0.26 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.23%. Bank of America’s dividend payout ratio is 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.