Capital Advisors Inc. OK Buys 393 Shares of Bank of America Co. (NYSE:BAC)

Capital Advisors Inc. OK grew its stake in Bank of America Co. (NYSE:BAC) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,226 shares of the financial services provider’s stock after acquiring an additional 393 shares during the period. Capital Advisors Inc. OK’s holdings in Bank of America were worth $1,900,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Collier Financial bought a new position in shares of Bank of America in the 4th quarter valued at about $25,000. Kennebec Savings Bank acquired a new stake in Bank of America in the 3rd quarter valued at about $29,000. Highline Wealth Partners LLC lifted its stake in Bank of America by 152.7% in the 4th 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 last quarter. Retirement Wealth Solutions LLC acquired a new stake in Bank of America in the 4th quarter valued at about $42,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Bank of America in the 3rd quarter valued at about $45,000. Institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Piper Sandler cut 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 note on Friday, January 17th. Truist Financial raised 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 note on Friday, January 17th. Morgan Stanley raised their target price on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective for the company in a research report on Friday, October 18th. Finally, Wells Fargo & Company raised their price objective on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Stock Performance

Shares of NYSE:BAC opened at $46.80 on Wednesday. The company’s 50 day simple moving average is $45.77 and its 200 day simple moving average is $42.96. The stock has a market capitalization of $359.08 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 1.29 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. Bank of America Co. has a 1 year low of $32.35 and a 1 year high of $48.08.

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 analysts’ consensus estimates 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 net margin of 14.10% and a return on equity of 10.29%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the firm posted $0.70 earnings per share. As a group, research analysts predict that Bank of America Co. will post 3.69 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 dividend on an annualized basis and a yield of 2.22%. Bank of America’s dividend payout ratio (DPR) 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.