Bank of Jackson Hole Trust Takes Position in Bank of America Co. (NYSE:BAC)

Bank of Jackson Hole Trust bought 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,796 shares of the financial services provider's stock, valued at approximately $782,000.

A number of other institutional investors have also modified their holdings of the stock. Swedbank AB increased its position in shares of Bank of America by 0.7% in the third quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider's stock valued at $279,441,000 after buying an additional 50,849 shares in the last quarter. Net Worth Advisory Group purchased a new stake in Bank of America in the 3rd quarter worth $232,000. Koss Olinger Consulting LLC raised its position in Bank of America by 31.1% during the third quarter. Koss Olinger Consulting LLC now owns 7,726 shares of the financial services provider's stock worth $307,000 after acquiring an additional 1,835 shares during the period. Northwest Investment Counselors LLC purchased a new position in Bank of America during the third quarter valued at $45,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of Bank of America by 36.5% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 108,617 shares of the financial services provider's stock valued at $4,310,000 after purchasing an additional 29,022 shares during the period. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America Stock Performance

BAC stock traded down $0.51 on Friday, reaching $44.80. The company's stock had a trading volume of 43,472,525 shares, compared to its average volume of 35,078,777. The company has a market capitalization of $343.71 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. The firm has a fifty day moving average of $45.77 and a two-hundred day moving average of $43.27. Bank of America Co. has a 52 week low of $33.37 and a 52 week high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.

Bank of America (NYSE:BAC - Get Free Report) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.05. The firm had revenue of $25.30 billion during 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 firm's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 earnings per share. As a group, analysts predict that Bank of America Co. will post 3.69 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Friday, March 7th. Bank of America's payout ratio is 32.30%.

Analyst Ratings Changes

Several equities research analysts have commented on BAC shares. Oppenheimer boosted their price objective on Bank of America from $54.00 to $55.00 and gave the stock an "outperform" rating in a research note on Friday, January 17th. Morgan Stanley increased their target price on shares of Bank of America from $54.00 to $56.00 and gave the company an "equal weight" rating in a research report on Friday, January 17th. Evercore ISI decreased their price target on shares of Bank of America from $53.00 to $51.00 and set an "outperform" rating on the stock in a research note on Friday, January 17th. Barclays upped their price objective 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. Finally, Piper Sandler lowered their target price on 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 analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Bank of America presently has a consensus rating of "Moderate Buy" and an average price target of $48.58.

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.