Jackson Thornton Wealth Management LLC Invests $224,000 in Bank of America Co. (NYSE:BAC)

Jackson Thornton Wealth Management LLC bought a new position in shares of Bank of America Co. (NYSE:BAC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,088 shares of the financial services provider’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds also recently modified their holdings of BAC. Collier Financial acquired a new stake in shares of Bank of America during the fourth quarter worth $25,000. Life Planning Partners Inc raised its position 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 worth $25,000 after purchasing an additional 545,936 shares during the period. Fairway Wealth LLC acquired a new position in Bank of America during the fourth quarter valued at $29,000. Highline Wealth Partners LLC raised 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 buying an additional 510 shares during the period. Finally, Mascoma Wealth Management LLC raised its position in Bank of America by 68.2% during the fourth quarter. Mascoma Wealth Management LLC now owns 890 shares of the financial services provider’s stock valued at $39,000 after buying an additional 361 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BAC shares. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Piper Sandler dropped their price target on Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. 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. Keefe, Bruyette & Woods upped their price target on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.64.

Bank of America Trading Down 0.0 %

Shares of BAC stock opened at $42.47 on Monday. The firm has a market capitalization of $322.88 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.21 and a beta of 1.32. Bank of America Co. has a twelve month low of $34.15 and a twelve month high of $48.08. The stock’s fifty day simple moving average is $44.81 and its 200 day simple moving average is $43.81. 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 announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. The firm had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 EPS. 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 Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s dividend payout ratio is 32.30%.

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.