Giverny Capital Inc. Purchases 10,930 Shares of Bank of America Co. (NYSE:BAC)

Giverny Capital Inc. increased its position in Bank of America Co. (NYSE:BAC - Free Report) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,000,978 shares of the financial services provider's stock after purchasing an additional 10,930 shares during the quarter. Bank of America makes up 1.6% of Giverny Capital Inc.'s portfolio, making the stock its 24th largest holding. Giverny Capital Inc.'s holdings in Bank of America were worth $43,993,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of BAC. Geode Capital Management LLC lifted its holdings in shares of Bank of America by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 142,289,199 shares of the financial services provider's stock worth $6,243,000,000 after acquiring an additional 2,033,229 shares during the period. Norges Bank bought a new position in Bank of America during the fourth quarter worth about $5,226,989,000. Bank of New York Mellon Corp boosted its holdings in Bank of America by 4.9% during the fourth quarter. Bank of New York Mellon Corp now owns 59,613,837 shares of the financial services provider's stock valued at $2,620,028,000 after purchasing an additional 2,806,927 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Bank of America by 3.7% in the 4th quarter. Fisher Asset Management LLC now owns 46,887,442 shares of the financial services provider's stock valued at $2,060,703,000 after purchasing an additional 1,671,610 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Bank of America by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 42,929,896 shares of the financial services provider's stock worth $1,886,769,000 after buying an additional 297,858 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

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Bank of America Trading Up 3.7 %

NYSE:BAC traded up $1.36 on Tuesday, hitting $38.03. 84,614,170 shares of the stock were exchanged, compared to its average volume of 39,392,816. The stock has a market capitalization of $289.16 billion, a price-to-earnings ratio of 11.81, a P/E/G 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 Co. has a 52 week low of $33.07 and a 52 week high of $48.08. The company's 50-day moving average price is $41.85 and its 200 day moving average price is $43.66.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $27.37 billion for the quarter, compared to analyst estimates of $26.83 billion. On average, equities research analysts forecast that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were issued 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 yield of 2.73%. Bank of America's dividend payout ratio is presently 32.30%.

Wall Street Analyst Weigh In

BAC has been the topic of several recent analyst reports. Oppenheimer boosted their price target on Bank of America from $54.00 to $55.00 and gave the company an "outperform" rating in a research note on Friday, January 17th. Truist Financial reduced their target price 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. Hsbc Global Res upgraded shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. HSBC upgraded shares of Bank of America from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Finally, Piper Sandler dropped their price objective 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. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Bank of America presently has an average rating of "Moderate Buy" and a consensus target price of $48.31.

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.