Bank of America Co. (NYSE:BAC) Shares Bought by Atwood & Palmer Inc.

Atwood & Palmer Inc. lifted its position in shares of Bank of America Co. (NYSE:BAC) by 31.3% during the 1st quarter, Holdings Channel.com reports. The fund owned 14,509 shares of the financial services provider’s stock after buying an additional 3,457 shares during the period. Atwood & Palmer Inc.’s holdings in Bank of America were worth $605,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BAC. Graney & King LLC purchased a new stake in shares of Bank of America in the fourth quarter valued at about $25,000. Collier Financial acquired a new position in Bank of America in the fourth quarter valued at $25,000. Fairway Wealth LLC purchased a new position in Bank of America during the fourth quarter worth about $29,000. Vega Investment Solutions acquired a new stake in shares of Bank of America in the fourth quarter worth approximately $30,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Bank of America in the 4th quarter valued at $31,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Price Performance

Shares of BAC opened at $44.93 on Tuesday. The firm has a market capitalization of $338.41 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 1.21 and a beta of 1.30. The stock’s fifty day moving average is $40.78 and its 200-day moving average is $43.44. Bank of America Co. has a one year low of $33.07 and a one year high of $48.08. 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 (NYSE:BAC) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.10. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $27.37 billion during the quarter, compared to analysts’ expectations of $26.83 billion. Equities analysts anticipate that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America’s dividend payout ratio (DPR) is presently 30.95%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Cfra Research boosted their price target on Bank of America to $47.00 and gave the company a “buy” rating in a research report on Wednesday, April 16th. Baird R W upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. Phillip Securities upgraded Bank of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, April 17th. Citigroup cut their price target on shares of Bank of America from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Finally, Truist Financial lowered their price objective on Bank of America from $50.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

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.