Wealth Dimensions Group Ltd. Increases Position in Bank of America Co. (NYSE:BAC)

Wealth Dimensions Group Ltd. grew its holdings in Bank of America Co. (NYSE:BAC - Free Report) by 127.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,252 shares of the financial services provider's stock after buying an additional 7,989 shares during the quarter. Wealth Dimensions Group Ltd.'s holdings in Bank of America were worth $626,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Collier Financial acquired a new stake in Bank of America during the 4th quarter worth $25,000. Life Planning Partners Inc boosted its position in Bank of America by 3,883.2% during the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider's stock worth $25,000 after acquiring an additional 545,936 shares during the last quarter. Graney & King LLC purchased a new stake in Bank of America during the 4th quarter valued at about $25,000. Fairway Wealth LLC acquired a new stake in Bank of America in the 4th quarter valued at about $29,000. Finally, Glass Jacobson Investment Advisors llc lifted its stake in Bank of America by 53.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider's stock worth $35,000 after purchasing an additional 276 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BAC has been the subject of several recent research reports. Morgan Stanley increased their price target on Bank of America from $54.00 to $56.00 and gave the company an "equal weight" rating in a report on Friday, January 17th. Barclays cut their target price on Bank of America from $58.00 to $54.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. HSBC raised shares of Bank of America from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Truist Financial cut their price objective on shares of Bank of America from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Finally, Oppenheimer increased their price target on shares of Bank of America from $54.00 to $55.00 and gave the company an "outperform" rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Bank of America currently has an average rating of "Moderate Buy" and an average price target of $47.43.

Bank of America Stock Up 1.3 %

BAC stock traded up $0.49 during mid-day trading on Wednesday, reaching $38.81. The company had a trading volume of 54,396,997 shares, compared to its average volume of 39,096,375. The firm has a fifty day simple moving average of $40.93 and a 200 day simple moving average of $43.59. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. Bank of America Co. has a fifty-two week low of $33.07 and a fifty-two week high of $48.08. The company has a market capitalization of $295.06 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 1.21 and a beta of 1.24.

Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.10. The business had revenue of $27.37 billion for the quarter, compared to the consensus estimate of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Analysts forecast that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.68%. Bank of America's dividend payout ratio (DPR) is presently 30.95%.

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.