Wealthstream Advisors Inc. Makes New Investment in Bank of America Co. (NYSE:BAC)

Wealthstream Advisors Inc. bought a new position in Bank of America Co. (NYSE:BAC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,647 shares of the financial services provider’s stock, valued at approximately $204,000.

A number of other institutional investors also recently modified their holdings of the stock. Hardman Johnston Global Advisors LLC acquired a new position in Bank of America during the 4th quarter worth $8,262,000. Waverton Investment Management Ltd raised its position in shares of Bank of America by 18.9% during the fourth quarter. Waverton Investment Management Ltd now owns 6,222 shares of the financial services provider’s stock worth $274,000 after acquiring an additional 990 shares during the last quarter. Colonial River Investments LLC lifted its stake in shares of Bank of America by 3.4% during the fourth quarter. Colonial River Investments LLC now owns 42,610 shares of the financial services provider’s stock valued at $1,873,000 after acquiring an additional 1,404 shares during the period. Boothe Investment Group Inc. boosted its holdings in Bank of America by 0.4% in the fourth quarter. Boothe Investment Group Inc. now owns 172,314 shares of the financial services provider’s stock valued at $7,573,000 after acquiring an additional 663 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its position in Bank of America by 93.2% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 143,203 shares of the financial services provider’s stock worth $6,294,000 after purchasing an additional 69,067 shares during the period. 70.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BAC shares. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their price objective on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Piper Sandler dropped their price objective on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Barclays raised their target price on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Morgan Stanley upped their price target on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Price Performance

BAC stock opened at $44.80 on Monday. The stock has a 50-day moving average price of $45.75 and a two-hundred day moving average price of $43.41. Bank of America Co. has a 1 year low of $33.37 and a 1 year high of $48.08. The stock has a market cap of $343.71 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 1.22 and a beta of 1.33. 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 posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Bank of America’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the company earned $0.70 earnings per share. Equities analysts forecast that Bank of America Co. will post 3.69 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio is presently 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.