CoreFirst Bank & Trust Takes Position in Bank of America Co. (NYSE:BAC)

CoreFirst Bank & Trust bought a new stake in shares of Bank of America Co. (NYSE:BAC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,798 shares of the financial services provider's stock, valued at approximately $343,000.

Other large investors also recently modified their holdings of the company. Lederer & Associates Investment Counsel CA lifted its stake in shares of Bank of America by 1.1% during the 4th quarter. Lederer & Associates Investment Counsel CA now owns 20,000 shares of the financial services provider's stock valued at $879,000 after buying an additional 217 shares in the last quarter. Avalon Trust Co grew its position in shares of Bank of America by 14.6% during the fourth quarter. Avalon Trust Co now owns 1,719 shares of the financial services provider's stock worth $76,000 after purchasing an additional 219 shares in the last quarter. Prossimo Advisors LLC raised its stake in Bank of America by 2.5% during the 4th quarter. Prossimo Advisors LLC now owns 8,880 shares of the financial services provider's stock valued at $390,000 after purchasing an additional 220 shares during the period. Marino Stram & Associates LLC lifted its holdings in Bank of America by 1.7% in the 4th quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider's stock worth $580,000 after purchasing an additional 222 shares in the last quarter. Finally, Keudell Morrison Wealth Management boosted its stake in 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 purchasing an additional 223 shares during the period. Hedge funds and other institutional investors own 70.71% of the company's stock.

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Analysts Set New Price Targets

Several research firms have recently issued reports on BAC. Hsbc Global Res upgraded shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. UBS Group raised shares of Bank of America from a "neutral" rating to a "buy" rating and raised their target price for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price objective on Bank of America from $50.00 to $57.00 and gave the company an "outperform" rating in a research report on Tuesday, December 3rd. Piper Sandler decreased their target price on Bank of America from $50.00 to $49.00 and set a "neutral" rating on the stock in a research report on Friday, January 17th. Finally, Robert W. Baird raised Bank of America from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $45.00 to $50.00 in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $48.45.

Bank of America Trading Down 0.3 %

Shares of NYSE BAC traded down $0.12 during trading hours on Thursday, reaching $42.70. The stock had a trading volume of 11,520,031 shares, compared to its average volume of 38,637,234. Bank of America Co. has a 52-week low of $34.15 and a 52-week high of $48.08. The firm has a market cap of $324.67 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 1.21 and a beta of 1.32. The business's fifty day moving average price is $44.63 and its two-hundred day moving average price is $43.86. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings data 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. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company 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 firm earned $0.70 earnings per share. The firm's revenue for the quarter was up 15.0% compared to the same quarter last year. Analysts expect that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm 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 2.44%. The ex-dividend date is Friday, March 7th. Bank of America's dividend payout ratio (DPR) is 32.30%.

About Bank of America

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.