Bank of America Co. (NYSE:BAC) Shares Purchased by Waldron Private Wealth LLC

Waldron Private Wealth LLC increased its position in shares of Bank of America Co. (NYSE:BAC - Free Report) by 96.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 111,122 shares of the financial services provider's stock after buying an additional 54,587 shares during the quarter. Waldron Private Wealth LLC's holdings in Bank of America were worth $4,884,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BAC. Kennebec Savings Bank acquired a new position in Bank of America during the third quarter worth approximately $29,000. Highline Wealth Partners LLC raised its stake in shares of Bank of America by 152.7% in 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 in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Bank of America during the fourth quarter valued at $42,000. Christopher J. Hasenberg Inc boosted its holdings in shares of Bank of America by 525.9% during the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider's stock worth $40,000 after purchasing an additional 852 shares during the period. Finally, Northwest Investment Counselors LLC bought a new stake in Bank of America in the third quarter worth $45,000. Hedge funds and other institutional investors own 70.71% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. UBS Group upgraded Bank of America from a "neutral" rating to a "buy" rating and upped their target price for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. Piper Sandler reduced their price target on shares of Bank of America from $50.00 to $49.00 and set a "neutral" rating on the stock in a research report on Friday, January 17th. Oppenheimer raised their price target on Bank of America from $54.00 to $55.00 and gave the stock an "outperform" rating in a research note on Friday, January 17th. Barclays upped their price target on Bank of America from $53.00 to $58.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Finally, Hsbc Global Res upgraded shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Bank of America has an average rating of "Moderate Buy" and an average price target of $48.58.

Bank of America Stock Performance

Shares of Bank of America stock traded down $0.07 during trading on Monday, hitting $46.23. 36,480,730 shares of the company's stock traded hands, compared to its average volume of 36,949,066. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $354.72 billion, a P/E ratio of 14.36, a PEG ratio of 1.26 and a beta of 1.33. The business has a 50-day simple moving average of $45.83 and a 200-day simple moving average of $42.77. Bank of America Co. has a 1 year low of $32.35 and a 1 year high of $48.08.

Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. The business had revenue of $25.30 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 EPS. As a group, analysts forecast that Bank of America Co. will post 3.67 EPS for the current 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 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 2.25%. 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.