14,754 Shares in Bank of America Co. (NYSE:BAC) Acquired by Warburton Capital Management LLC

Warburton Capital Management LLC bought a new position in shares of Bank of America Co. (NYSE:BAC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,754 shares of the financial services provider's stock, valued at approximately $648,000. Bank of America makes up about 0.5% of Warburton Capital Management LLC's holdings, making the stock its 15th largest holding.

A number of other large investors have also recently added to or reduced their stakes in BAC. Natural Investments LLC acquired a new position in Bank of America in the 4th quarter worth approximately $741,000. Fairway Wealth LLC acquired a new position in Bank of America in the 4th quarter worth approximately $29,000. Cornerstone Advisors LLC boosted its stake in Bank of America by 1.2% in the 4th quarter. Cornerstone Advisors LLC now owns 500,300 shares of the financial services provider's stock worth $21,988,000 after purchasing an additional 5,700 shares during the period. King Luther Capital Management Corp boosted its stake in Bank of America by 0.3% in the 4th quarter. King Luther Capital Management Corp now owns 7,434,169 shares of the financial services provider's stock worth $326,732,000 after purchasing an additional 20,835 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its stake in Bank of America by 3.3% in the 4th quarter. Citizens Financial Group Inc. RI now owns 1,040,862 shares of the financial services provider's stock worth $45,746,000 after purchasing an additional 33,693 shares during the period. 70.71% of the stock is currently owned by institutional investors.

Bank of America Stock Performance

NYSE BAC opened at $39.62 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $301.29 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 1.21 and a beta of 1.32. The company's fifty day moving average is $45.44 and its two-hundred day moving average is $43.76. Bank of America Co. has a 52-week low of $34.15 and a 52-week high of $48.08.

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Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.05. The company 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 business's quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the business posted $0.70 EPS. Equities research analysts forecast that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.63%. Bank of America's dividend payout ratio (DPR) is currently 32.30%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BAC. UBS Group raised shares of Bank of America from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. Truist Financial increased their target price on shares of Bank of America from $52.00 to $53.00 and gave the stock a "buy" rating in a research report on Friday, January 17th. Piper Sandler cut their target price on shares of Bank of America from $50.00 to $49.00 and set a "neutral" rating for the company in a research report on Friday, January 17th. Robert W. Baird upgraded shares of Bank of America from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $45.00 to $50.00 in a research report on Friday, March 7th. Finally, Hsbc Global Res upgraded shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Bank of America presently has an average rating of "Moderate Buy" and a consensus target price of $48.64.

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.

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