Bank of America Co. (NYSE:BAC) Shares Bought by Bailard Inc.

Bailard Inc. raised its holdings in Bank of America Co. (NYSE:BAC) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 270,703 shares of the financial services provider’s stock after purchasing an additional 3,034 shares during the period. Bailard Inc.’s holdings in Bank of America were worth $11,897,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BAC. Swedbank AB grew its holdings in Bank of America by 0.7% in the third quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider’s stock valued at $279,441,000 after purchasing an additional 50,849 shares during the period. Gladstone Institutional Advisory LLC lifted its position in shares of Bank of America by 68.4% in the third quarter. Gladstone Institutional Advisory LLC now owns 81,775 shares of the financial services provider’s stock valued at $3,245,000 after acquiring an additional 33,205 shares in the last quarter. Lowe Brockenbrough & Co. Inc. lifted its position in shares of Bank of America by 3.5% in the third quarter. Lowe Brockenbrough & Co. Inc. now owns 25,816 shares of the financial services provider’s stock valued at $1,024,000 after acquiring an additional 874 shares in the last quarter. Ceredex Value Advisors LLC lifted its position in shares of Bank of America by 26.0% in the third quarter. Ceredex Value Advisors LLC now owns 1,531,531 shares of the financial services provider’s stock valued at $60,771,000 after acquiring an additional 316,206 shares in the last quarter. Finally, BluePath Capital Management LLC lifted its position in shares of Bank of America by 17.2% in the third quarter. BluePath Capital Management LLC now owns 21,728 shares of the financial services provider’s stock valued at $862,000 after acquiring an additional 3,187 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Price Performance

BAC stock opened at $46.19 on Friday. The business has a fifty day moving average of $45.78 and a two-hundred day moving average of $43.59. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The stock has a market cap of $354.37 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 1.21 and a beta of 1.33. Bank of America Co. has a 52-week low of $34.03 and a 52-week high of $48.08.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $25.12 billion. During the same period in the previous year, the firm posted $0.70 earnings per share. The company’s revenue was up 15.0% on a year-over-year basis. As a group, research analysts anticipate that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

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 paid a $0.26 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.25%. Bank of America’s payout ratio is presently 32.30%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BAC shares. Truist Financial raised their target price on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Morgan Stanley raised their target price on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Keefe, Bruyette & Woods lifted their price objective 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. Finally, HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.58.

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.