Bank of America Co. (NYSE:BAC) Shares Purchased by Proficio Capital Partners LLC

Proficio Capital Partners LLC lifted its position in shares of Bank of America Co. (NYSE:BAC - Free Report) by 65.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,252 shares of the financial services provider's stock after acquiring an additional 7,999 shares during the quarter. Proficio Capital Partners LLC's holdings in Bank of America were worth $890,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Collier Financial acquired a new stake in Bank of America in the 4th quarter worth about $25,000. Highline Wealth Partners LLC boosted its stake 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 worth $37,000 after acquiring an additional 510 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Bank of America during the fourth quarter worth approximately $42,000. POM Investment Strategies LLC raised its stake 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 purchasing an additional 1,006 shares during the last quarter. Finally, Noble Wealth Management PBC purchased a new position in Bank of America in the 4th quarter valued at $50,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Stock Up 0.6 %

Shares of Bank of America stock traded up $0.24 during trading hours on Tuesday, reaching $43.31. 25,438,380 shares of the company were exchanged, compared to its average volume of 35,889,184. The stock's fifty day moving average is $44.77 and its 200 day moving average is $43.83. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $329.28 billion, a PE ratio of 13.45, a PEG 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.

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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 analysts' consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion for 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 quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 EPS. As a group, equities research analysts forecast that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

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 paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America's payout ratio is 32.30%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BAC shares. Baird R W upgraded Bank of America from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. 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 report on Friday, January 17th. Keefe, Bruyette & Woods raised their target price on Bank of America from $50.00 to $57.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. Hsbc Global Res raised shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. Finally, Morgan Stanley lifted their target price on shares of 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 research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $48.45.

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.