Bank of America Co. (NYSE:BAC) Shares Bought by Autumn Glory Partners LLC

Autumn Glory Partners LLC increased its holdings in Bank of America Co. (NYSE:BAC) by 9.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,154 shares of the financial services provider’s stock after purchasing an additional 1,432 shares during the period. Autumn Glory Partners LLC’s holdings in Bank of America were worth $754,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BAC. AustralianSuper Pty Ltd boosted its holdings in Bank of America by 5.4% in the 4th quarter. AustralianSuper Pty Ltd now owns 225,198 shares of the financial services provider’s stock worth $9,897,000 after acquiring an additional 11,584 shares during the period. Kanawha Capital Management LLC lifted its holdings in Bank of America by 11.4% in the fourth quarter. Kanawha Capital Management LLC now owns 19,675 shares of the financial services provider’s stock worth $865,000 after acquiring an additional 2,010 shares during the last quarter. Asset Planning Inc bought a new stake in shares of Bank of America during the fourth quarter valued at approximately $220,000. Vicus Capital increased its stake in Bank of America by 4.7% during the 4th quarter. Vicus Capital now owns 10,759 shares of the financial services provider’s stock valued at $473,000 after buying an additional 480 shares during the period. Finally, Palacios Wealth Management LLC acquired a new position in shares of Bank of America during the 4th quarter valued at $258,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

NYSE:BAC opened at $46.98 on Friday. Bank of America Co. has a 12-month low of $32.49 and a 12-month high of $48.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm 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 has a 50-day moving average price of $45.75 and a 200 day moving average price of $43.05.

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 (EPS) for the quarter, topping 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 firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the prior year, the business posted $0.70 earnings per share. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. Research analysts anticipate that Bank of America Co. will post 3.69 earnings per share for the current fiscal year.

Bank of America Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Piper Sandler cut their target price on Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, January 7th. 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. Keefe, Bruyette & Woods upped 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 stock a “buy” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average 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.