FineMark National Bank & Trust Buys 6,314 Shares of Bank of America Co. (NYSE:BAC)

FineMark National Bank & Trust raised its stake in shares of Bank of America Co. (NYSE:BAC - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 100,919 shares of the financial services provider's stock after purchasing an additional 6,314 shares during the quarter. FineMark National Bank & Trust's holdings in Bank of America were worth $4,435,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Collier Financial bought a new position in Bank of America during the fourth quarter valued at about $25,000. Fairway Wealth LLC acquired a new position in shares of Bank of America in the fourth quarter valued at $29,000. Highline Wealth Partners LLC lifted its position in Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider's stock worth $37,000 after purchasing an additional 510 shares during the period. Mascoma Wealth Management LLC boosted its stake in Bank of America by 68.2% during the fourth quarter. Mascoma Wealth Management LLC now owns 890 shares of the financial services provider's stock worth $39,000 after buying an additional 361 shares in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in Bank of America in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Trading Down 0.2 %

NYSE:BAC traded down $0.10 during trading hours on Thursday, hitting $42.72. 12,287,901 shares of the stock were exchanged, compared to its average volume of 35,746,615. The company has a market capitalization of $324.78 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32. 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 50 day moving average is $44.63 and its two-hundred day moving average is $43.86. Bank of America Co. has a twelve month low of $34.15 and a twelve month high of $48.08.

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Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the prior year, the firm posted $0.70 earnings per share. The firm's revenue for the quarter was up 15.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

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 issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a yield of 2.43%. Bank of America's dividend payout ratio is currently 32.30%.

Analyst Ratings Changes

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

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.