13,113 Shares in Bank of America Co. (NYSE:BAC) Purchased by First National Bank of Hutchinson

First National Bank of Hutchinson acquired a new position in shares of Bank of America Co. (NYSE:BAC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 13,113 shares of the financial services provider's stock, valued at approximately $576,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Bank of America by 4.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,940,121 shares of the financial services provider's stock worth $173,168,000 after purchasing an additional 173,021 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Bank of America in the 4th quarter worth approximately $60,679,000. Arizona State Retirement System boosted its holdings in shares of Bank of America by 0.5% in the fourth quarter. Arizona State Retirement System now owns 2,028,439 shares of the financial services provider's stock worth $89,150,000 after acquiring an additional 10,377 shares during the period. Keybank National Association OH increased its holdings in Bank of America by 1.1% during the 4th quarter. Keybank National Association OH now owns 3,458,616 shares of the financial services provider's stock worth $152,006,000 after acquiring an additional 38,258 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Bank of America by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 42,929,896 shares of the financial services provider's stock valued at $1,886,769,000 after acquiring an additional 297,858 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. UBS Group upgraded Bank of America from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $43.00 to $53.00 in a report on Tuesday, January 7th. Baird R W raised Bank of America from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. Piper Sandler cut their price target 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. Robert W. Baird raised shares of Bank of America from a "neutral" rating to an "outperform" rating and raised their price target for the company from $45.00 to $50.00 in a report on Friday, March 7th. Finally, Evercore ISI lowered their target price on Bank of America from $53.00 to $51.00 and set an "outperform" rating on the stock in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $48.64.

Bank of America Stock Down 0.0 %

NYSE BAC traded down $0.01 during trading on Friday, reaching $42.47. 65,002,977 shares of the company's stock were exchanged, compared to its average volume of 35,916,358. The firm has a market capitalization of $322.88 billion, a PE ratio of 13.19, a P/E/G ratio of 1.21 and a beta of 1.32. The company's fifty day simple moving average is $44.81 and its 200-day simple moving average is $43.79. Bank of America Co. has a fifty-two week low of $34.15 and a fifty-two week high of $48.08. 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 results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.05. The firm had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share. Sell-side analysts predict that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.45%. Bank of America's dividend payout ratio (DPR) is currently 32.30%.

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.