Coign Capital Advisors LLC Makes New $631,000 Investment in Bank of America Co. (NYSE:BAC)

Coign Capital Advisors LLC acquired a new position in Bank of America Co. (NYSE:BAC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 14,356 shares of the financial services provider's stock, valued at approximately $631,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Collier Financial bought a new position in shares of Bank of America in the 4th quarter valued at about $25,000. Life Planning Partners Inc increased its position in shares of 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 worth $25,000 after purchasing an additional 545,936 shares during the period. Graney & King LLC bought a new stake in Bank of America during the fourth quarter worth $25,000. Fairway Wealth LLC bought a new position in Bank of America in the fourth quarter valued at about $29,000. Finally, Glass Jacobson Investment Advisors llc boosted its position in Bank of America by 53.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider's stock valued at $35,000 after buying an additional 276 shares in the last quarter. Institutional investors own 70.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BAC shares. Piper Sandler cut their price objective on Bank of America from $50.00 to $49.00 and set a "neutral" rating on the stock in a research note on Friday, January 17th. Truist Financial dropped their target price on Bank of America from $53.00 to $50.00 and set a "buy" rating on the stock in a report on Friday, April 4th. Robert W. Baird upgraded shares of Bank of America from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $45.00 to $50.00 in a research note on Friday, March 7th. HSBC raised shares of Bank of America from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a report on Tuesday, January 7th. Finally, Hsbc Global Res raised Bank of America from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $48.31.

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Bank of America Trading Up 4.5 %

BAC stock traded up $1.64 during mid-day trading on Tuesday, reaching $38.31. The company had a trading volume of 53,637,117 shares, compared to its average volume of 39,297,021. The firm has a 50 day moving average of $42.04 and a 200 day moving average of $43.70. 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 Co. has a 12 month low of $33.07 and a 12 month high of $48.08. The company has a market capitalization of $291.26 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.21 and a beta of 1.24.

Bank of America (NYSE:BAC - Get Free Report) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.10. The business had revenue of $27.37 billion during the quarter, compared to analysts' expectations of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. On average, equities analysts predict that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a $0.26 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.71%. Bank of America's payout ratio is presently 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.