13,950 Shares in Bank of America Co. (NYSE:BAC) Acquired by Advyzon Investment Management LLC

Advyzon Investment Management LLC acquired a new position in shares of Bank of America Co. (NYSE:BAC - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 13,950 shares of the financial services provider's stock, valued at approximately $613,000.

A number of other hedge funds have also modified their holdings of BAC. Collier Financial acquired a new stake in shares of Bank of America in the fourth quarter valued at about $25,000. Life Planning Partners Inc grew its stake in Bank of America by 3,883.2% in the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 545,936 shares in the last quarter. Kennebec Savings Bank acquired a new position in shares of Bank of America during the 3rd quarter worth approximately $29,000. Highline Wealth Partners LLC boosted its holdings in shares of Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider's stock valued at $37,000 after buying an additional 510 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Bank of America in the fourth quarter valued at $42,000. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BAC shares. Barclays increased their price target on shares of Bank of America from $53.00 to $58.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. Evercore ISI reduced their target price 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. Keefe, Bruyette & Woods raised their price target on Bank of America from $50.00 to $57.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. Truist Financial increased their price objective on shares of Bank of America from $52.00 to $53.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Finally, Citigroup upgraded shares of Bank of America from a "neutral" rating to a "buy" rating and upped their price target for the company from $46.00 to $54.00 in a research note on Friday, November 8th. 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 assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $48.58.

Bank of America Trading Down 1.1 %

Bank of America stock traded down $0.51 during trading hours on Friday, hitting $44.80. The stock had a trading volume of 30,702,189 shares, compared to its average volume of 34,612,152. The business's 50 day simple moving average is $45.77 and its 200-day simple moving average is $43.27. Bank of America Co. has a one year low of $33.37 and a one year high of $48.08. The stock has a market cap of $343.71 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 1.24 and a beta of 1.33. 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 (NYSE:BAC - Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. The firm had revenue of $25.30 billion during the quarter, compared to analysts' expectations of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company's revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 EPS. On average, equities analysts predict that Bank of America Co. will post 3.69 EPS 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. Stockholders of record on Friday, March 7th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.32%. Bank of America's dividend payout ratio (DPR) is 32.30%.

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.