Orca Wealth Management LLC acquired a new position in shares of Bank of America Co. (NYSE:BAC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 34,963 shares of the financial services provider's stock, valued at approximately $1,537,000. Bank of America comprises 1.4% of Orca Wealth Management LLC's portfolio, making the stock its 26th largest holding.
A number of other institutional investors also recently made changes to their positions in BAC. Kennebec Savings Bank bought a new stake in Bank of America in the 3rd quarter valued at $29,000. Highline Wealth Partners LLC boosted its position in shares of 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. Christopher J. Hasenberg Inc grew its stake in shares of Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 852 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in Bank of America during the fourth quarter worth about $42,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Bank of America in the 3rd quarter worth about $45,000. Institutional investors own 70.71% of the company's stock.
Bank of America Trading Down 0.2 %
Shares of BAC stock traded down $0.11 during trading hours on Wednesday, hitting $46.74. 23,672,647 shares of the company's stock traded hands, compared to its average volume of 37,657,961. The stock has a market cap of $358.59 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. The stock's 50 day simple moving average is $45.83 and its 200 day simple moving average is $42.70. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 12 month low of $32.35 and a 12 month high of $48.08.
Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $25.12 billion. During the same period last year, the company earned $0.70 EPS. Bank of America's revenue for the quarter was up 15.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Bank of America Co. will post 3.67 EPS for the current year.
Bank of America Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.23%. Bank of America's dividend payout ratio is presently 32.30%.
Wall Street Analyst Weigh In
BAC has been the subject of a number of analyst reports. Phillip Securities upgraded shares of Bank of America from a "neutral" rating to an "accumulate" rating and set a $44.00 price target for the company in a research report on Friday, October 18th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $46.00 price objective on shares of Bank of America in a report on Wednesday, October 9th. Oppenheimer increased their target price on Bank of America from $54.00 to $55.00 and gave the stock an "outperform" rating in a report on Friday, January 17th. Evercore ISI dropped their price target 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. Finally, Truist Financial increased their price objective on shares of Bank of America from $52.00 to $53.00 and gave the stock a "buy" rating in a research note on Friday, January 17th. 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 given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $48.58.
Check Out Our Latest Analysis on BAC
Bank of America Company Profile
(
Free Report)
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.
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