Brio Consultants LLC Has $309,000 Position in Bank of America Co. (NYSE:BAC)

Brio Consultants LLC grew its holdings in Bank of America Co. (NYSE:BAC) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,021 shares of the financial services provider’s stock after buying an additional 405 shares during the quarter. Brio Consultants LLC’s holdings in Bank of America were worth $309,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Trust Co. of Toledo NA OH grew its holdings in shares of Bank of America by 3.2% during the third quarter. Trust Co. of Toledo NA OH now owns 13,288 shares of the financial services provider’s stock worth $527,000 after purchasing an additional 417 shares during the last quarter. Czech National Bank grew its holdings in Bank of America by 6.0% during the 3rd quarter. Czech National Bank now owns 1,375,216 shares of the financial services provider’s stock worth $54,569,000 after acquiring an additional 78,376 shares during the last quarter. Curbstone Financial Management Corp increased its position in Bank of America by 4.0% in the 3rd quarter. Curbstone Financial Management Corp now owns 23,254 shares of the financial services provider’s stock valued at $923,000 after acquiring an additional 888 shares in the last quarter. Farmers Trust Co. increased its position in Bank of America by 8.5% in the 3rd quarter. Farmers Trust Co. now owns 16,245 shares of the financial services provider’s stock valued at $645,000 after acquiring an additional 1,275 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its stake in shares of Bank of America by 2.4% in the third quarter. Canandaigua National Bank & Trust Co. now owns 111,346 shares of the financial services provider’s stock worth $4,418,000 after acquiring an additional 2,648 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays raised their price target on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Piper Sandler decreased their price target on Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Evercore ISI lowered their price objective on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Finally, Oppenheimer upped their target price on shares of Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Trading Down 1.0 %

Shares of NYSE:BAC opened at $46.25 on Friday. The stock has a market capitalization of $354.84 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.27 and a beta of 1.33. The company’s 50-day moving average price is $45.83 and its two-hundred day moving average price is $42.79. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. Bank of America Co. has a one year low of $32.35 and a one year high of $48.08.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same period in the prior year, the firm posted $0.70 earnings per share. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, equities analysts forecast that Bank of America Co. will post 3.67 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is currently 32.30%.

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.