Bank of America Co. (NYSE:BAC) Shares Bought by Facet Wealth Inc.

Facet Wealth Inc. increased its holdings in Bank of America Co. (NYSE:BAC) by 45.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,590 shares of the financial services provider’s stock after purchasing an additional 3,288 shares during the quarter. Facet Wealth Inc.’s holdings in Bank of America were worth $502,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Amundi raised its holdings in shares of Bank of America by 37.1% during the fourth quarter. Amundi now owns 37,819,980 shares of the financial services provider’s stock valued at $1,747,658,000 after acquiring an additional 10,231,001 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Bank of America by 31,021.6% during the third quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider’s stock valued at $405,049,000 after acquiring an additional 10,175,100 shares during the last quarter. Swedbank AB raised its holdings in shares of Bank of America by 81.4% during the fourth quarter. Swedbank AB now owns 12,776,184 shares of the financial services provider’s stock valued at $561,513,000 after acquiring an additional 5,733,810 shares during the last quarter. KBC Group NV raised its holdings in shares of Bank of America by 130.9% during the fourth quarter. KBC Group NV now owns 9,692,279 shares of the financial services provider’s stock valued at $425,976,000 after acquiring an additional 5,493,817 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Bank of America by 193.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider’s stock valued at $301,898,000 after acquiring an additional 5,015,378 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and upped their price target for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. Barclays upped their price target on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Truist Financial upped their price target on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Piper Sandler dropped their price target 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. Finally, Morgan Stanley increased their price objective on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” 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, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and an average target price of $48.64.

Bank of America Stock Up 3.3 %

NYSE:BAC opened at $40.97 on Friday. The stock has a market capitalization of $311.45 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32. 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 Co. has a 52 week low of $34.15 and a 52 week high of $48.08. The stock’s fifty day moving average is $45.19 and its two-hundred day moving average is $43.74.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. The business had revenue of $25.30 billion for 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%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the firm earned $0.70 earnings per share. Research analysts anticipate that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The business also recently disclosed 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. This represents a $1.04 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s payout ratio is currently 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.