Bank of America Co. (NYSE:BAC) Holdings Raised by First Financial Corp IN

First Financial Corp IN boosted its stake in Bank of America Co. (NYSE:BAC) by 10.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,778 shares of the financial services provider’s stock after acquiring an additional 1,106 shares during the quarter. First Financial Corp IN’s holdings in Bank of America were worth $518,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of BAC. Black Diamond Financial LLC raised its holdings in Bank of America by 6.5% during the second quarter. Black Diamond Financial LLC now owns 23,032 shares of the financial services provider’s stock worth $916,000 after purchasing an additional 1,397 shares in the last quarter. Sierra Summit Advisors LLC raised its stake in shares of Bank of America by 136.2% in the 2nd quarter. Sierra Summit Advisors LLC now owns 20,314 shares of the financial services provider’s stock worth $808,000 after buying an additional 11,714 shares in the last quarter. Menard Financial Group LLC lifted its holdings in shares of Bank of America by 20.9% in the second quarter. Menard Financial Group LLC now owns 17,576 shares of the financial services provider’s stock valued at $699,000 after buying an additional 3,044 shares during the period. Citizens Financial Group Inc. RI boosted its stake in Bank of America by 622.2% during the second quarter. Citizens Financial Group Inc. RI now owns 709,166 shares of the financial services provider’s stock valued at $28,204,000 after buying an additional 610,977 shares in the last quarter. Finally, Wulff Hansen & CO. grew its holdings in Bank of America by 3,720.6% during the second quarter. Wulff Hansen & CO. now owns 2,025,221 shares of the financial services provider’s stock worth $80,543,000 after acquiring an additional 1,972,213 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BAC shares. Piper Sandler upped their price target on shares of Bank of America from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Wells Fargo & Company increased their target price on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Truist Financial began coverage on Bank of America in a report on Tuesday, January 7th. They issued a “buy” rating and a $52.00 price target on the stock. Finally, Phillip Securities raised Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective for the company in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.50.

Bank of America Stock Down 0.0 %

BAC stock opened at $45.09 on Tuesday. The company has a 50 day moving average of $45.61 and a two-hundred day moving average of $42.27. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. Bank of America Co. has a 12-month low of $31.27 and a 12-month high of $48.08. The company has a market cap of $345.97 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 1.55 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.03. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The business had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.25 billion. During the same period last year, the company earned $0.90 earnings per share. Bank of America’s quarterly revenue was up .4% compared to the same quarter last year. On average, equities analysts anticipate that Bank of America Co. will post 3.27 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 6th were issued a dividend of $0.26 per share. The ex-dividend date was Friday, December 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.31%. Bank of America’s dividend payout ratio is 37.82%.

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.