Core Wealth Partners LLC Purchases 829 Shares of Bank of America Co. (NYSE:BAC)

Core Wealth Partners LLC lifted its holdings in shares of Bank of America Co. (NYSE:BAC) by 10.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 8,818 shares of the financial services provider’s stock after acquiring an additional 829 shares during the period. Core Wealth Partners LLC’s holdings in Bank of America were worth $388,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Lederer & Associates Investment Counsel CA lifted its stake in shares of Bank of America by 1.1% in the 4th quarter. Lederer & Associates Investment Counsel CA now owns 20,000 shares of the financial services provider’s stock valued at $879,000 after purchasing an additional 217 shares during the period. Avalon Trust Co increased its holdings in Bank of America by 14.6% in the fourth quarter. Avalon Trust Co now owns 1,719 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 219 shares during the last quarter. Prossimo Advisors LLC lifted its stake in Bank of America by 2.5% in the fourth quarter. Prossimo Advisors LLC now owns 8,880 shares of the financial services provider’s stock valued at $390,000 after buying an additional 220 shares during the period. Marino Stram & Associates LLC grew its position in shares of Bank of America by 1.7% during the 4th quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock worth $580,000 after buying an additional 222 shares during the period. Finally, Keudell Morrison Wealth Management increased its stake in shares of Bank of America by 2.8% in the 4th quarter. Keudell Morrison Wealth Management now owns 8,291 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 223 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Bank of America Trading Up 0.6 %

Shares of BAC stock opened at $43.31 on Wednesday. Bank of America Co. has a 12-month low of $34.15 and a 12-month high of $48.08. The company has a market capitalization of $329.28 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32. The firm has a 50 day moving average price of $44.72 and a two-hundred day moving average price of $43.87. 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 (NYSE:BAC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $25.30 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 earnings per share. As a group, analysts predict 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 declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.40%. Bank of America’s dividend payout ratio is 32.30%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BAC. Truist Financial boosted their price objective on shares of Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, January 17th. Baird R W raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. Morgan Stanley boosted their target price on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Finally, Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating 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, sixteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and an average target price of $48.45.

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.