Evergreen Capital Management LLC Boosts Holdings in Bank of America Co. (NYSE:BAC)

Evergreen Capital Management LLC lifted its holdings in shares of Bank of America Co. (NYSE:BAC - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 325,927 shares of the financial services provider's stock after acquiring an additional 9,453 shares during the quarter. Evergreen Capital Management LLC's holdings in Bank of America were worth $14,325,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Graney & King LLC bought a new position in shares of Bank of America in the 4th quarter worth approximately $25,000. Collier Financial bought a new stake in shares of Bank of America during the 4th quarter valued at $25,000. Fairway Wealth LLC purchased a new stake in shares of Bank of America in the 4th quarter worth about $29,000. Glass Jacobson Investment Advisors llc lifted its position in Bank of America by 53.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 276 shares during the period. Finally, Highline Wealth Partners LLC increased its stake in shares of Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 510 shares in the last quarter. Institutional investors own 70.71% of the company's stock.

Bank of America Price Performance

Shares of NYSE:BAC traded up $0.11 during trading on Friday, hitting $37.44. 47,052,978 shares of the company's stock were exchanged, compared to its average volume of 39,127,145. The business's 50-day simple moving average is $41.27 and its 200 day simple moving average is $43.59. 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 52-week low of $33.07 and a 52-week high of $48.08. The company has a market cap of $284.65 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 1.21 and a beta of 1.24.

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

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.78%. Bank of America's payout ratio is currently 30.95%.

Wall Street Analyst Weigh In

BAC has been the topic of a number of recent research reports. UBS Group increased their target price on Bank of America from $46.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday. Royal Bank of Canada reduced their price target on shares of Bank of America from $50.00 to $45.00 and set an "outperform" rating for the company in a research report on Wednesday. Morgan Stanley boosted their price target on Bank of America from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Friday, January 17th. 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. Finally, Baird R W raised shares of Bank of America from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.20.

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.