Highview Capital Management LLC DE Takes Position in Bank of America Co. (NYSE:BAC)

Highview Capital Management LLC DE bought a new stake in Bank of America Co. (NYSE:BAC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,500 shares of the financial services provider's stock, valued at approximately $286,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BAC. Collier Financial bought a new position in Bank of America in the fourth quarter valued at about $25,000. Kennebec Savings Bank bought a new position in Bank of America in the 3rd quarter valued at approximately $29,000. Highline Wealth Partners LLC boosted its position in Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider's stock worth $37,000 after buying an additional 510 shares during the period. Retirement Wealth Solutions LLC bought a new stake in Bank of America during the 4th quarter worth approximately $42,000. Finally, POM Investment Strategies LLC increased its position in Bank of America by 1,306.5% in the 4th quarter. POM Investment Strategies LLC now owns 1,083 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 1,006 shares during the period. Institutional investors own 70.71% of the company's stock.

Bank of America Price Performance

Shares of BAC stock traded down $0.56 on Wednesday, reaching $45.98. The company's stock had a trading volume of 29,329,934 shares, compared to its average volume of 34,331,352. Bank of America Co. has a 12-month low of $33.17 and a 12-month high of $48.08. The stock's 50 day simple moving average is $45.79 and its 200-day simple moving average is $43.23. 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 $352.76 billion, a P/E ratio of 14.27, a PEG ratio of 1.27 and a beta of 1.33.

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 analysts' consensus estimates of $0.77 by $0.05. The firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company's revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the company posted $0.70 EPS. As a group, equities analysts predict that Bank of America Co. will post 3.69 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Friday, March 7th. Bank of America's payout ratio is 32.30%.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of analyst reports. Truist Financial raised their price objective 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. Barclays increased their price objective on shares of Bank of America from $53.00 to $58.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Wells Fargo & Company boosted their target price on shares of Bank of America from $52.00 to $56.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Keefe, Bruyette & Woods upped their price objective on shares of Bank of America from $50.00 to $57.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. Finally, Citigroup upgraded Bank of America from a "neutral" rating to a "buy" rating and raised their target price for the company from $46.00 to $54.00 in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target 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.