AGP Franklin LLC Purchases Shares of 35,294 Bank of America Co. (NYSE:BAC)

AGP Franklin LLC acquired a new position in shares of Bank of America Co. (NYSE:BAC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 35,294 shares of the financial services provider's stock, valued at approximately $1,551,000.

A number of other large investors have also recently bought and sold shares of the company. Ontario Teachers Pension Plan Board boosted its position in shares of Bank of America by 71,357.5% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 8,632,780 shares of the financial services provider's stock valued at $379,411,000 after purchasing an additional 8,620,699 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super acquired a new position in shares of Bank of America during the fourth quarter worth approximately $12,507,000. LaSalle St. Investment Advisors LLC acquired a new position in Bank of America during the fourth quarter worth $208,000. Belpointe Asset Management LLC lifted its stake in shares of Bank of America by 14.8% in the fourth quarter. Belpointe Asset Management LLC now owns 47,324 shares of the financial services provider's stock valued at $1,928,000 after buying an additional 6,088 shares in the last quarter. Finally, CreativeOne Wealth LLC increased its position in shares of Bank of America by 5.3% during the fourth quarter. CreativeOne Wealth LLC now owns 109,163 shares of the financial services provider's stock worth $4,798,000 after acquiring an additional 5,462 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BAC has been the subject of a number of recent research reports. Royal Bank of Canada decreased their price objective on Bank of America from $50.00 to $45.00 and set an "outperform" rating for the company in a report on Wednesday. Hsbc Global Res upgraded Bank of America from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. UBS Group raised their price objective on shares of Bank of America from $46.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday. Evercore ISI lowered their price target on shares of Bank of America from $51.00 to $48.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Finally, Piper Sandler reduced their price objective on Bank of America from $45.00 to $42.00 and set a "neutral" rating for the company in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $47.20.

Bank of America Price Performance

BAC stock traded up $0.11 during mid-day trading on Friday, hitting $37.44. 47,052,978 shares of the stock were exchanged, compared to its average volume of 39,127,145. 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 stock has a market capitalization of $284.65 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 1.21 and a beta of 1.24. The business has a fifty day moving average price of $41.27 and a 200 day moving average price of $43.59. Bank of America Co. has a 12 month low of $33.07 and a 12 month high of $48.08.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $27.37 billion for the quarter, compared to analysts' expectations of $26.83 billion. On average, sell-side analysts anticipate that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were issued a $0.26 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.04 annualized dividend and a yield of 2.78%. Bank of America's dividend payout ratio (DPR) is presently 30.95%.

Bank of America 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.