14,549 Shares in Bank of America Co. (NYSE:BAC) Bought by Guardian Partners Inc.

Guardian Partners Inc. purchased a new stake in shares of Bank of America Co. (NYSE:BAC - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 14,549 shares of the financial services provider's stock, valued at approximately $672,000.

Several other institutional investors have also modified their holdings of the company. Collier Financial purchased a new position in shares of Bank of America during the 4th quarter worth $25,000. Fairway Wealth LLC acquired a new position in shares of Bank of America in the 4th quarter worth approximately $29,000. Highline Wealth Partners LLC boosted its stake 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 valued at $37,000 after acquiring an additional 510 shares during the period. Mascoma Wealth Management LLC boosted its holdings in shares of 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 valued at $39,000 after acquiring an additional 361 shares during the period. Finally, Retirement Wealth Solutions LLC acquired a new stake in Bank of America in the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America Stock Performance

BAC stock traded down $0.21 during trading on Thursday, reaching $42.61. 25,606,235 shares of the stock were exchanged, compared to its average volume of 35,796,432. Bank of America Co. has a twelve month low of $34.15 and a twelve month high of $48.08. The company has a market capitalization of $323.96 billion, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32. The stock has a 50 day simple moving average of $44.63 and a 200-day simple moving average of $43.86. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

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

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Friday, March 7th. Bank of America's dividend payout ratio is currently 32.30%.

Analyst Ratings Changes

Several research firms have recently weighed in on BAC. Piper Sandler reduced 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 research report on Friday, January 17th. 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 research note on Friday, January 17th. Truist Financial boosted their target price on Bank of America from $52.00 to $53.00 and gave the stock a "buy" rating in a research report on Friday, January 17th. Baird R W upgraded Bank of America from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 7th. Finally, Oppenheimer boosted their price objective on Bank of America from $54.00 to $55.00 and gave the stock an "outperform" rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $48.45.

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.