Heck Capital Advisors LLC Buys New Shares in Bank of America Co. (NYSE:BAC)

Heck Capital Advisors LLC bought a new stake in Bank of America Co. (NYSE:BAC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 9,752 shares of the financial services provider's stock, valued at approximately $429,000.

Several other institutional investors also recently modified their holdings of BAC. Caprock Group LLC boosted its holdings in Bank of America by 5.7% during the fourth quarter. Caprock Group LLC now owns 199,692 shares of the financial services provider's stock worth $8,776,000 after buying an additional 10,828 shares during the last quarter. Turtle Creek Wealth Advisors LLC boosted its position in shares of Bank of America by 9.4% during the fourth quarter. Turtle Creek Wealth Advisors LLC now owns 14,110 shares of the financial services provider's stock worth $620,000 after purchasing an additional 1,216 shares in the last quarter. New Wave Wealth Advisors LLC acquired a new position in shares of Bank of America in the 4th quarter valued at $165,000. Keudell Morrison Wealth Management increased its position in shares of Bank of America by 2.8% in the 4th quarter. Keudell Morrison Wealth Management now owns 8,291 shares of the financial services provider's stock valued at $364,000 after buying an additional 223 shares in the last quarter. Finally, Evernest Financial Advisors LLC increased its holdings in shares of Bank of America by 5.7% in the fourth quarter. Evernest Financial Advisors LLC now owns 18,279 shares of the financial services provider's stock worth $803,000 after acquiring an additional 983 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Price Performance

Shares of NYSE:BAC traded up $0.54 during midday trading on Tuesday, hitting $46.75. The stock had a trading volume of 3,164,409 shares, compared to its average volume of 35,347,492. The company's 50-day moving average price is $45.83 and its 200-day moving average price is $42.77. Bank of America Co. has a fifty-two week low of $32.35 and a fifty-two week 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 has a market capitalization of $358.69 billion, a P/E ratio of 14.53, a price-to-earnings-growth ratio of 1.26 and a beta of 1.33.

Bank of America (NYSE:BAC - Get Free Report) last announced 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. The business had revenue of $25.30 billion during the quarter, compared to the consensus estimate 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 was up 15.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 earnings per share. As a group, equities research analysts predict that Bank of America Co. will post 3.67 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a yield of 2.22%. Bank of America's payout ratio is 32.30%.

Wall Street Analyst Weigh In

Several brokerages recently commented on BAC. Citigroup raised Bank of America from a "neutral" rating to a "buy" rating and increased their price target for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Truist Financial raised their target price on shares of Bank of America from $52.00 to $53.00 and gave the company a "buy" rating in a research note on Friday, January 17th. Wells Fargo & Company upped their price target on shares of Bank of America from $52.00 to $56.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. UBS Group raised shares of Bank of America from a "neutral" rating to a "buy" rating and upped their target price for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $46.00 price objective on shares of Bank of America in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Bank of America currently has an average rating of "Moderate Buy" and a consensus target price of $48.58.

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.