Financial Harvest LLC Buys Shares of 4,946 Bank of America Co. (NYSE:BAC)

Financial Harvest LLC acquired a new stake in Bank of America Co. (NYSE:BAC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 4,946 shares of the financial services provider’s stock, valued at approximately $217,000.

Other institutional investors also recently added to or reduced their stakes in the company. Collier Financial bought a new position in shares of Bank of America during the 4th quarter valued at about $25,000. Life Planning Partners Inc boosted its position in shares of Bank of America by 3,883.2% in the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after buying an additional 545,936 shares during the period. Kennebec Savings Bank purchased a new position in Bank of America during the 3rd quarter valued at about $29,000. Highline Wealth Partners LLC grew its position in Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 510 shares in the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Bank of America in the fourth quarter worth $42,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analysts Set New Price Targets

BAC has been the topic of a number of research reports. Truist Financial increased their price objective on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Piper Sandler reduced their price objective on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Wells Fargo & Company boosted their price target on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Barclays raised their price objective on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Evercore ISI decreased their price target on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note 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, Bank of America currently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Stock Performance

Bank of America stock opened at $45.31 on Friday. Bank of America Co. has a 1 year low of $33.17 and a 1 year high of $48.08. The company has a market cap of $347.62 billion, a PE ratio of 14.07, a PEG ratio of 1.24 and a beta of 1.33. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The company’s 50-day moving average is $45.77 and its two-hundred day moving average is $43.27.

Bank of America (NYSE:BAC) last posted its 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 during the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Bank of America’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 EPS. Equities analysts anticipate that Bank of America Co. will post 3.69 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.30%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio is 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.