Meeder Advisory Services Inc. Purchases 886 Shares of Bank of America Co. (NYSE:BAC)

Meeder Advisory Services Inc. lifted its holdings in Bank of America Co. (NYSE:BAC) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 117,075 shares of the financial services provider’s stock after buying an additional 886 shares during the period. Meeder Advisory Services Inc.’s holdings in Bank of America were worth $5,145,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BAC. Collier Financial bought a new position in Bank of America in the 4th quarter valued at $25,000. Life Planning Partners Inc boosted its holdings in shares of Bank of America by 3,883.2% in the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after buying an additional 545,936 shares during the last quarter. Graney & King LLC bought a new position in Bank of America during the fourth quarter valued at about $25,000. Fairway Wealth LLC purchased a new stake in Bank of America during the fourth quarter worth about $29,000. Finally, Highline Wealth Partners LLC boosted its stake 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 valued at $37,000 after acquiring an additional 510 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Bank of America Price Performance

Shares of NYSE BAC opened at $41.49 on Wednesday. The firm has a market capitalization of $315.42 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.21 and a beta of 1.32. 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 stock’s 50-day simple moving average is $44.25 and its two-hundred day simple moving average is $43.97. Bank of America Co. has a twelve month low of $34.15 and a twelve month high of $48.08.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $25.12 billion. During the same period last year, the firm posted $0.70 earnings per share. Bank of America’s quarterly revenue was up 15.0% on a year-over-year basis. As a group, equities analysts anticipate that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were given a $0.26 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.04 annualized dividend and a yield of 2.51%. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on BAC shares. Piper Sandler decreased their price target on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Citigroup decreased their target price on Bank of America from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Truist Financial increased their price target on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Baird R W raised Bank of America from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Finally, HSBC raised shares of 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $48.31.

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.