Bank of America Co. (NYSE:BAC) Shares Acquired by Catalyst Financial Partners LLC

Catalyst Financial Partners LLC boosted its holdings in Bank of America Co. (NYSE:BAC) by 9.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,803 shares of the financial services provider’s stock after purchasing an additional 2,737 shares during the quarter. Catalyst Financial Partners LLC’s holdings in Bank of America were worth $1,398,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CX Institutional grew its position in shares of Bank of America by 5.3% in the 3rd quarter. CX Institutional now owns 33,263 shares of the financial services provider’s stock valued at $1,320,000 after buying an additional 1,667 shares during the last quarter. Swedbank AB boosted its stake 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 acquiring an additional 50,849 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Bank of America by 33.3% during the third quarter. Vontobel Holding Ltd. now owns 207,961 shares of the financial services provider’s stock worth $8,252,000 after purchasing an additional 51,903 shares during the last quarter. Physician Wealth Advisors Inc. increased its position in shares of Bank of America by 8.7% during the third quarter. Physician Wealth Advisors Inc. now owns 7,570 shares of the financial services provider’s stock worth $319,000 after purchasing an additional 604 shares in the last quarter. Finally, Twelve Points Wealth Management LLC lifted its holdings in shares of Bank of America by 4.4% in the 3rd quarter. Twelve Points Wealth Management LLC now owns 8,808 shares of the financial services provider’s stock valued at $350,000 after purchasing an additional 369 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on BAC shares. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $46.00 to $54.00 in a research note on Friday, November 8th. Truist Financial increased their price objective on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, January 17th. Morgan Stanley lifted their target price on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. 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. Finally, HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. One equities 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Performance

Shares of BAC opened at $46.32 on Friday. The company has a market capitalization of $355.40 billion, a PE ratio of 14.38, a P/E/G ratio of 1.29 and a beta of 1.33. Bank of America Co. has a 52-week low of $32.49 and a 52-week high of $48.08. The company has a 50-day simple moving average of $45.76 and a 200-day simple moving average of $43.02. 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 posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period last year, the firm earned $0.70 EPS. Equities research analysts predict that Bank of America Co. will post 3.69 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

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