11,031 Shares in Bank of America Co. (NYSE:BAC) Purchased by Greenwood Gearhart Inc.

Greenwood Gearhart Inc. acquired a new stake in Bank of America Co. (NYSE:BAC) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 11,031 shares of the financial services provider’s stock, valued at approximately $485,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MSH Capital Advisors LLC acquired a new position in Bank of America during the fourth quarter worth $631,000. Main Street Financial Solutions LLC raised its stake in Bank of America by 150.1% during the fourth quarter. Main Street Financial Solutions LLC now owns 74,359 shares of the financial services provider’s stock worth $3,268,000 after purchasing an additional 44,631 shares during the period. Evergreen Capital Management LLC boosted its holdings in Bank of America by 3.0% in the 4th quarter. Evergreen Capital Management LLC now owns 325,927 shares of the financial services provider’s stock valued at $14,325,000 after purchasing an additional 9,453 shares during the last quarter. Regal Investment Advisors LLC increased its holdings in shares of Bank of America by 78.7% during the 4th quarter. Regal Investment Advisors LLC now owns 78,767 shares of the financial services provider’s stock worth $3,462,000 after buying an additional 34,698 shares during the last quarter. Finally, Integrity Wealth Advisors Inc. acquired a new position in Bank of America in the fourth quarter valued at approximately $352,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BAC shares. Truist Financial reduced their price target on shares of Bank of America from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, April 4th. JPMorgan Chase & Co. dropped their price objective on Bank of America from $49.50 to $43.50 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Baird R W upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. 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. Finally, 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and a consensus target price of $48.31.

Bank of America Stock Up 3.7 %

Shares of Bank of America stock opened at $38.03 on Wednesday. The company has a market cap of $289.16 billion, a P/E ratio of 11.81, a PEG ratio of 1.21 and a beta of 1.24. The firm has a fifty day moving average of $41.85 and a two-hundred day moving average of $43.66. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. Bank of America Co. has a one year low of $33.07 and a one year high of $48.08.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $27.37 billion for the quarter, compared to analysts’ expectations of $26.83 billion. On average, analysts forecast that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a dividend of $0.26 per share. The ex-dividend date was Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.73%. Bank of America’s payout ratio is 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.