Abner Herrman & Brock LLC Has $17.74 Million Stake in Bank of America Co. (NYSE:BAC)

Abner Herrman & Brock LLC raised its stake in Bank of America Co. (NYSE:BAC - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 403,598 shares of the financial services provider's stock after acquiring an additional 6,936 shares during the quarter. Bank of America comprises 2.2% of Abner Herrman & Brock LLC's holdings, making the stock its 21st largest position. Abner Herrman & Brock LLC's holdings in Bank of America were worth $17,738,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of BAC. KPP Advisory Services LLC increased its stake in shares of Bank of America by 1.5% during the fourth quarter. KPP Advisory Services LLC now owns 29,879 shares of the financial services provider's stock worth $1,313,000 after purchasing an additional 450 shares during the period. Sunesis Advisors LLC increased its position in Bank of America by 3.2% during the 4th quarter. Sunesis Advisors LLC now owns 45,082 shares of the financial services provider's stock worth $1,981,000 after buying an additional 1,394 shares during the period. CENTRAL TRUST Co lifted its holdings in shares of Bank of America by 3.2% during the fourth quarter. CENTRAL TRUST Co now owns 227,600 shares of the financial services provider's stock worth $10,003,000 after buying an additional 7,120 shares in the last quarter. McAdam LLC boosted its position in shares of Bank of America by 19.2% in the fourth quarter. McAdam LLC now owns 14,112 shares of the financial services provider's stock valued at $620,000 after acquiring an additional 2,276 shares during the period. Finally, Sutton Place Investors LLC grew its stake in shares of Bank of America by 6.5% in the fourth quarter. Sutton Place Investors LLC now owns 7,662 shares of the financial services provider's stock valued at $337,000 after acquiring an additional 471 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Truist Financial boosted their price target on Bank of America from $52.00 to $53.00 and gave the company a "buy" rating in a research note on Friday, January 17th. StockNews.com raised Bank of America from a "sell" rating to a "hold" rating in a report on Wednesday, October 16th. Citigroup raised Bank of America from a "neutral" rating to a "buy" rating and boosted their price target for the company from $46.00 to $54.00 in a research note on Friday, November 8th. Royal Bank of Canada reiterated an "outperform" rating and set a $46.00 price objective on shares of Bank of America in a research note on Wednesday, October 9th. Finally, Piper Sandler decreased their target price on shares of Bank of America from $50.00 to $49.00 and set a "neutral" rating on the stock in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.58.

Bank of America Trading Down 0.1 %

Shares of BAC stock traded down $0.07 during trading hours on Monday, hitting $46.23. 36,480,730 shares of the company's stock traded hands, compared to its average volume of 36,949,066. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 12 month low of $32.35 and a 12 month high of $48.08. The stock has a market cap of $354.72 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.26 and a beta of 1.33. The stock's 50 day simple moving average is $45.83 and its 200 day simple moving average is $42.77.

Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. The firm had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business's quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 EPS. On average, sell-side analysts anticipate that Bank of America Co. will post 3.67 EPS for the current year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America's dividend payout ratio is presently 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.