Bank of America Co. (NYSE:BAC) Shares Purchased by Blueprint Investment Partners LLC

Blueprint Investment Partners LLC increased its stake in shares of Bank of America Co. (NYSE:BAC) by 39.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 34,611 shares of the financial services provider’s stock after purchasing an additional 9,835 shares during the period. Blueprint Investment Partners LLC’s holdings in Bank of America were worth $1,521,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BAC. Collier Financial acquired a new position in Bank of America in the 4th quarter valued at about $25,000. Fairway Wealth LLC purchased a new stake in shares of Bank of America in the 4th quarter worth about $29,000. Highline Wealth Partners LLC increased its stake in shares of Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 510 shares in the last quarter. Mascoma Wealth Management LLC boosted its stake in shares of Bank of America by 68.2% during the fourth quarter. Mascoma Wealth Management LLC now owns 890 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 361 shares during the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Bank of America during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Trading Down 0.0 %

NYSE:BAC opened at $42.47 on Friday. Bank of America Co. has a one year low of $34.15 and a one year high of $48.08. The business’s 50-day simple moving average is $44.81 and its 200 day simple moving average is $43.79. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market cap of $322.88 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same period in the prior year, the company posted $0.70 EPS. Bank of America’s quarterly revenue was up 15.0% on a year-over-year basis. As a group, sell-side analysts predict that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business 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. This represents a $1.04 annualized dividend and a yield of 2.45%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio is currently 32.30%.

Analyst Upgrades and Downgrades

BAC has been the subject of several research analyst reports. Keefe, Bruyette & Woods upped their price target on shares of Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. Barclays lifted their target price on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Evercore ISI dropped their price target on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Finally, Piper Sandler reduced their price objective on Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and a consensus price target of $48.64.

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.