Bailard Inc. Raises Stock Holdings in Bank of America Co. (NYSE:BAC)

Bailard Inc. boosted its position in shares of Bank of America Co. (NYSE:BAC) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 228,315 shares of the financial services provider’s stock after purchasing an additional 6,004 shares during the quarter. Bailard Inc.’s holdings in Bank of America were worth $10,158,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Foresight Wealth Management LLC raised its position in Bank of America by 1.1% in the fourth quarter. Foresight Wealth Management LLC now owns 19,251 shares of the financial services provider’s stock valued at $856,000 after purchasing an additional 209 shares during the period. Ranch Capital Advisors Inc. raised its position in Bank of America by 1.5% in the fourth quarter. Ranch Capital Advisors Inc. now owns 14,331 shares of the financial services provider’s stock valued at $638,000 after purchasing an additional 210 shares during the period. Wolff Wiese Magana LLC raised its position in Bank of America by 3.1% in the fourth quarter. Wolff Wiese Magana LLC now owns 7,085 shares of the financial services provider’s stock valued at $316,000 after purchasing an additional 212 shares during the period. Texas Capital Bank Wealth Management Services Inc. raised its position in Bank of America by 2.7% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc. now owns 8,447 shares of the financial services provider’s stock valued at $376,000 after purchasing an additional 226 shares during the period. Finally, Fort Point Capital Partners LLC raised its position in Bank of America by 2.3% in the third quarter. Fort Point Capital Partners LLC now owns 10,140 shares of the financial services provider’s stock valued at $430,000 after purchasing an additional 230 shares during the period. Institutional investors own 70.46% of the company’s stock.

BAC has been the topic of a number of recent research reports. Robert W. Baird raised Bank of America from an “underperform” rating to a “neutral” rating and set a $42.00 price objective on the stock in a research report on Tuesday, March 8th. Piper Sandler cut their price objective on Bank of America from $57.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 5th. Zacks Investment Research lowered Bank of America from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research report on Monday, February 7th. Argus upped their price objective on Bank of America from $50.00 to $55.00 in a research report on Thursday, January 20th. Finally, BMO Capital Markets cut their price objective on Bank of America from $48.00 to $46.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 19th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $50.41.

Shares of BAC traded up $0.10 during mid-day trading on Friday, hitting $35.17. 49,117,857 shares of the company’s stock were exchanged, compared to its average volume of 50,582,824. Bank of America Co. has a fifty-two week low of $34.26 and a fifty-two week high of $50.11. The firm has a market capitalization of $283.36 billion, a P/E ratio of 10.05, a P/E/G ratio of 1.55 and a beta of 1.39. The business’s 50 day moving average is $39.57 and its two-hundred day moving average is $43.76. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.16.

Bank of America (NYSE:BACGet Rating) last announced its earnings results on Monday, April 18th. The financial services provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.01. Bank of America had a net margin of 32.84% and a return on equity of 12.55%. The business had revenue of $23.20 billion during the quarter, compared to the consensus estimate of $23.09 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts forecast that Bank of America Co. will post 3.28 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 3rd will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $0.84 annualized dividend and a dividend yield of 2.39%. Bank of America’s dividend payout ratio (DPR) is 24.00%.

Bank of America Profile (Get Rating)

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. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans.

Featured Articles

Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Co. (NYSE:BACGet Rating).

Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

Receive News & Ratings for Bank of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of America and related companies with MarketBeat.com's FREE daily email newsletter.