Cordatus Wealth Management LLC Acquires New Holdings in Bank of America Co. (NYSE:BAC)

Cordatus Wealth Management LLC bought a new stake in Bank of America Co. (NYSE:BAC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 79,957 shares of the financial services provider's stock, valued at approximately $3,514,000. Bank of America comprises approximately 0.9% of Cordatus Wealth Management LLC's portfolio, making the stock its 28th biggest holding.

Several other large investors also recently added to or reduced their stakes in BAC. Lederer & Associates Investment Counsel CA increased its position in shares of Bank of America by 1.1% during the fourth quarter. Lederer & Associates Investment Counsel CA now owns 20,000 shares of the financial services provider's stock worth $879,000 after buying an additional 217 shares during the period. Prossimo Advisors LLC boosted its position in Bank of America by 2.5% during the fourth quarter. Prossimo Advisors LLC now owns 8,880 shares of the financial services provider's stock valued at $390,000 after acquiring an additional 220 shares during the last quarter. Marino Stram & Associates LLC grew its holdings in Bank of America by 1.7% during the 4th quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider's stock worth $580,000 after acquiring an additional 222 shares during the period. Keudell Morrison Wealth Management raised its position in shares of Bank of America by 2.8% in the 4th quarter. Keudell Morrison Wealth Management now owns 8,291 shares of the financial services provider's stock worth $364,000 after acquiring an additional 223 shares in the last quarter. Finally, Traveka Wealth LLC lifted its stake in shares of Bank of America by 2.7% in the 4th quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider's stock valued at $382,000 after purchasing an additional 226 shares during the period. 70.71% of the stock is owned by institutional investors.

Bank of America Stock Performance

BAC stock traded down $0.51 during mid-day trading on Friday, hitting $44.80. The company had a trading volume of 43,472,525 shares, compared to its average volume of 35,078,777. The stock's fifty day moving average price is $45.77 and its two-hundred day moving average price is $43.27. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. Bank of America Co. has a 12 month low of $33.37 and a 12 month high of $48.08. The firm has a market cap of $343.71 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same period in the prior year, the company earned $0.70 earnings per share. Bank of America's revenue was up 15.0% compared to the same quarter last year. On average, analysts forecast that Bank of America Co. will post 3.69 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently commented on BAC. Keefe, Bruyette & Woods raised their target price on Bank of America from $50.00 to $57.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. Wells Fargo & Company boosted their target price on shares of Bank of America from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Piper Sandler reduced their price objective on Bank of America from $50.00 to $49.00 and set a "neutral" rating for the company in a research note on Friday, January 17th. Truist Financial boosted their price target on shares of Bank of America from $52.00 to $53.00 and gave the company a "buy" rating in a research note on Friday, January 17th. Finally, HSBC raised shares of Bank of America from a "hold" rating to a "buy" rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. One equities research 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.58.

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.