Liberty Wealth Management LLC Grows Stake in Bank of America Co. (NYSE:BAC)

Liberty Wealth Management LLC increased its stake in shares of Bank of America Co. (NYSE:BAC) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,999 shares of the financial services provider’s stock after buying an additional 743 shares during the quarter. Liberty Wealth Management LLC’s holdings in Bank of America were worth $1,187,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Collier Financial purchased a new stake in shares of Bank of America during the fourth quarter valued at $25,000. Life Planning Partners Inc grew its holdings in shares of Bank of America by 3,883.2% during the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after buying an additional 545,936 shares during the last quarter. Kennebec Savings Bank acquired a new position in Bank of America during the third quarter valued at $29,000. Fairway Wealth LLC acquired a new position in Bank of America during the fourth quarter valued at $29,000. Finally, Highline Wealth Partners LLC lifted 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 during the period. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Stock Down 0.5 %

Shares of NYSE BAC opened at $39.62 on Wednesday. Bank of America Co. has a 12-month low of $34.15 and a 12-month high of $48.08. The stock has a market cap of $301.29 billion, a PE ratio of 12.30, a P/E/G ratio of 1.21 and a beta of 1.32. 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 has a 50-day moving average of $45.44 and a 200 day moving average of $43.76.

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 for the quarter, beating the consensus estimate of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same quarter in the prior year, the company posted $0.70 EPS. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, sell-side analysts predict that Bank of America Co. will post 3.7 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. 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 annualized dividend and a dividend yield of 2.63%. Bank of America’s dividend payout ratio (DPR) is 32.30%.

Analyst Upgrades and Downgrades

BAC has been the subject of a number of research reports. Piper Sandler decreased their target price on shares of 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. Truist Financial boosted their target price on shares of 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 shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Robert W. Baird upgraded shares of Bank of America from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $45.00 to $50.00 in a research report on Friday, March 7th. Finally, Barclays upped their price objective on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.64.

About Bank of America

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.