Bank of America Co. (NYSE:BAC) Shares Bought by Larson Financial Group LLC

Larson Financial Group LLC increased its position in shares of Bank of America Co. (NYSE:BAC - Free Report) by 414.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 53,424 shares of the financial services provider's stock after purchasing an additional 43,042 shares during the quarter. Larson Financial Group LLC's holdings in Bank of America were worth $2,348,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Two Sigma Advisers LP raised its stake in shares of Bank of America by 31,021.6% during the 3rd quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider's stock worth $405,049,000 after buying an additional 10,175,100 shares during the last quarter. Swedbank AB raised its position in Bank of America by 81.4% during the fourth quarter. Swedbank AB now owns 12,776,184 shares of the financial services provider's stock worth $561,513,000 after acquiring an additional 5,733,810 shares during the last quarter. KBC Group NV lifted its holdings in shares of Bank of America by 130.9% in the fourth quarter. KBC Group NV now owns 9,692,279 shares of the financial services provider's stock valued at $425,976,000 after purchasing an additional 5,493,817 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Bank of America by 193.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider's stock valued at $301,898,000 after purchasing an additional 5,015,378 shares during the last quarter. Finally, D1 Capital Partners L.P. purchased a new position in shares of Bank of America during the 3rd quarter worth approximately $174,858,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BAC shares. Truist Financial upped their target price on Bank of America from $52.00 to $53.00 and gave the company a "buy" rating in a research note on Friday, January 17th. Morgan Stanley upped their price objective on Bank of America from $54.00 to $56.00 and gave the company an "equal weight" rating in a research report on Friday, January 17th. Evercore ISI dropped their price objective on Bank of America from $53.00 to $51.00 and set an "outperform" rating for the company in a research report on Friday, January 17th. 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 research note on Friday, November 15th. Finally, Robert W. Baird raised shares of Bank of America from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $45.00 to $50.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Bank of America has an average rating of "Moderate Buy" and an average price target of $48.64.

Bank of America Trading Down 0.5 %

Shares of Bank of America stock traded down $0.21 during trading hours on Tuesday, reaching $39.62. The stock had a trading volume of 50,561,860 shares, compared to its average volume of 36,015,205. The firm has a market capitalization of $301.29 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 1.21 and a beta of 1.32. Bank of America Co. has a 1 year low of $34.15 and a 1 year 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. The firm has a 50 day simple moving average of $45.44 and a two-hundred day simple moving average of $43.76.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings results 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. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same quarter last year, the firm posted $0.70 earnings per share. Bank of America's revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, equities research 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 announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.63%. Bank of America's payout ratio is 32.30%.

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.