F M Investments LLC Has $4.75 Million Position in Bank of America Co. (NYSE:BAC)

F M Investments LLC raised its stake in Bank of America Co. (NYSE:BAC - Free Report) by 45.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,153 shares of the financial services provider's stock after acquiring an additional 33,787 shares during the quarter. F M Investments LLC's holdings in Bank of America were worth $4,753,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Collier Financial acquired a new position in Bank of America in the 4th quarter valued at $25,000. Life Planning Partners Inc boosted 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 valued at $25,000 after acquiring an additional 545,936 shares during the period. Graney & King LLC acquired a new position in shares of Bank of America in the fourth quarter valued at about $25,000. Fairway Wealth LLC acquired a new stake in Bank of America in the 4th quarter worth about $29,000. Finally, Highline Wealth Partners LLC boosted its holdings in Bank of America by 152.7% in the 4th 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 during the period. Institutional investors and hedge funds own 70.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Robert W. Baird raised Bank of America from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $45.00 to $50.00 in a research report on Friday, March 7th. Barclays upped their price objective on shares of Bank of America from $53.00 to $58.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Piper Sandler decreased their target price on shares of Bank of America from $50.00 to $49.00 and set a "neutral" rating on the stock in a report on Friday, January 17th. UBS Group raised shares of Bank of America from a "neutral" rating to a "buy" rating and upped their price target for the stock from $43.00 to $53.00 in a report on Tuesday, January 7th. Finally, Truist Financial decreased their price objective on shares of Bank of America from $53.00 to $50.00 and set a "buy" rating on the stock in a research note on Friday, April 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $48.31.

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Bank of America Trading Up 4.2 %

Shares of BAC traded up $1.54 during mid-day trading on Tuesday, reaching $38.21. 47,063,463 shares of the company were exchanged, compared to its average volume of 45,446,098. The business has a 50 day simple moving average of $42.04 and a two-hundred day simple moving average of $43.70. Bank of America Co. has a 52 week low of $33.06 and a 52 week high of $48.08. The stock has a market capitalization of $290.50 billion, a PE ratio of 11.87, a PEG ratio of 1.21 and a beta of 1.24. 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 (NYSE:BAC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm had revenue of $27.37 billion for the quarter, compared to the consensus estimate of $26.83 billion. On average, 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. Shareholders of record on Friday, March 7th were issued a dividend of $0.26 per share. The ex-dividend date was Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.72%. Bank of America's payout ratio is currently 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.