6,489 Shares in Bank of America Co. (NYSE:BAC) Acquired by Lynx Investment Advisory

Lynx Investment Advisory 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 6,489 shares of the financial services provider's stock, valued at approximately $285,000.

Several other institutional investors also recently modified their holdings of BAC. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Bank of America by 4.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,940,121 shares of the financial services provider's stock worth $173,168,000 after buying an additional 173,021 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Bank of America in the 4th quarter valued at approximately $60,679,000. Arizona State Retirement System boosted its stake in Bank of America by 0.5% during the 4th quarter. Arizona State Retirement System now owns 2,028,439 shares of the financial services provider's stock worth $89,150,000 after acquiring an additional 10,377 shares during the last quarter. Keybank National Association OH grew its holdings in Bank of America by 1.1% during the fourth quarter. Keybank National Association OH now owns 3,458,616 shares of the financial services provider's stock valued at $152,006,000 after purchasing an additional 38,258 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Bank of America by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 42,929,896 shares of the financial services provider's stock valued at $1,886,769,000 after purchasing 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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Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Truist Financial lifted their price target on shares of 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 raised Bank of America from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Keefe, Bruyette & Woods raised their price target on Bank of America from $50.00 to $57.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. Oppenheimer lifted their price objective on Bank of America from $54.00 to $55.00 and gave the company an "outperform" rating in a report on Friday, January 17th. Finally, Morgan Stanley increased their target price on Bank of America from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.45.

Bank of America Stock Performance

NYSE BAC traded down $0.21 on Thursday, hitting $42.61. 25,606,235 shares of the stock were exchanged, compared to its average volume of 35,794,224. The business's fifty day moving average is $44.55 and its 200 day moving average is $43.85. Bank of America Co. has a 52 week low of $34.15 and a 52 week high of $48.08. The company has a market capitalization of $323.96 billion, a PE ratio of 13.23, a P/E/G ratio of 1.21 and a beta of 1.32. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.05. The business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm's revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.70 EPS. Research analysts anticipate that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

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

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.