Bank of America Co. (NYSE:BAC) Shares Bought by Claris Advisors LLC MO

Claris Advisors LLC MO grew its stake in shares of Bank of America Co. (NYSE:BAC) by 64.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,693 shares of the financial services provider’s stock after purchasing an additional 2,620 shares during the period. Claris Advisors LLC MO’s holdings in Bank of America were worth $294,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of Bank of America by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock worth $5,546,871,000 after acquiring an additional 1,700,141 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Bank of America by 4.9% during the fourth quarter. Bank of New York Mellon Corp now owns 59,613,837 shares of the financial services provider’s stock worth $2,620,028,000 after purchasing an additional 2,806,927 shares in the last quarter. Fisher Asset Management LLC boosted its position in Bank of America by 3.7% during the fourth quarter. Fisher Asset Management LLC now owns 46,887,442 shares of the financial services provider’s stock worth $2,060,703,000 after purchasing an additional 1,671,610 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Bank of America by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 42,929,896 shares of the financial services provider’s stock valued at $1,886,769,000 after purchasing an additional 297,858 shares during the last quarter. Finally, Amundi increased its position in shares of Bank of America by 37.1% in the fourth quarter. Amundi now owns 37,819,980 shares of the financial services provider’s stock valued at $1,747,658,000 after buying an additional 10,231,001 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Truist Financial increased their price objective 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. Baird R W upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Friday. HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Morgan Stanley increased their price target on shares of Bank of America from $54.00 to $56.00 and gave the stock 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, sixteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and a consensus target price of $48.64.

Bank of America Trading Down 3.9 %

NYSE BAC opened at $39.79 on Tuesday. The stock has a market cap of $302.55 billion, a P/E ratio of 12.36, a PEG ratio of 1.21 and a beta of 1.32. The company’s fifty day simple moving average is $45.53 and its 200-day simple moving average is $43.76. 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 Co. has a 52 week low of $34.15 and a 52 week high of $48.08.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The firm had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 EPS. Equities research analysts predict that Bank of America Co. will post 3.7 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. Shareholders of record on Friday, March 7th will be issued 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 2.61%. Bank of America’s dividend payout ratio is presently 32.30%.

Bank of America Company 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.