Financial Life Planners Buys Shares of 12,738 Bank of America Co. (NYSE:BAC)

Financial Life Planners 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 12,738 shares of the financial services provider's stock, valued at approximately $560,000. Bank of America comprises approximately 0.5% of Financial Life Planners' investment portfolio, making the stock its 25th largest position.

Other large investors have also recently bought and sold shares of the company. Accent Capital Management LLC boosted its stake in shares of Bank of America by 43.0% in the 3rd quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider's stock valued at $1,567,000 after purchasing an additional 11,873 shares during the last quarter. Summit Global Investments lifted its stake in Bank of America by 237.6% in the 3rd quarter. Summit Global Investments now owns 51,278 shares of the financial services provider's stock valued at $2,035,000 after acquiring an additional 36,089 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Bank of America by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider's stock worth $5,546,871,000 after purchasing an additional 1,700,141 shares during the last quarter. Clarendon Private LLC acquired a new position in shares of Bank of America during the 4th quarter worth about $798,000. Finally, Baker Avenue Asset Management LP boosted its stake in shares of Bank of America by 125.8% during the 3rd quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider's stock worth $2,421,000 after acquiring an additional 33,983 shares during the period. Institutional investors and hedge funds own 70.71% of the company's stock.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of research analyst reports. Evercore ISI reduced their price objective on Bank of America from $53.00 to $51.00 and set an "outperform" rating for the company in a report on Friday, January 17th. StockNews.com upgraded Bank of America from a "sell" rating to a "hold" rating in a research note on Wednesday, October 16th. Morgan Stanley raised their price objective on Bank of America from $54.00 to $56.00 and gave the company an "equal weight" rating in a research note on Friday, January 17th. Piper Sandler dropped their target price on shares of Bank of America from $50.00 to $49.00 and set a "neutral" rating for the company in a report on Friday, January 17th. Finally, Barclays boosted 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 note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $48.58.

Bank of America Stock Performance

BAC traded down $0.07 during trading hours on Monday, hitting $46.23. The stock had a trading volume of 36,480,730 shares, compared to its average volume of 36,949,066. The stock has a market cap of $354.72 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.26 and a beta of 1.33. Bank of America Co. has a 1 year low of $32.35 and a 1 year high of $48.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The company's fifty day simple moving average is $45.83 and its 200 day simple moving average is $42.77.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $25.12 billion. During the same quarter in the previous year, the company earned $0.70 earnings per share. Bank of America's revenue for the quarter was up 15.0% on a year-over-year basis. Equities analysts anticipate that Bank of America Co. will post 3.67 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America's payout ratio is presently 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.