Metis Global Partners LLC Raises Holdings in Bank of America Co. (NYSE:BAC)

Metis Global Partners LLC grew its position in Bank of America Co. (NYSE:BAC) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 340,740 shares of the financial services provider’s stock after buying an additional 3,222 shares during the quarter. Metis Global Partners LLC’s holdings in Bank of America were worth $14,976,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Collier Financial bought a new position in shares of Bank of America in the 4th quarter worth $25,000. Kennebec Savings Bank bought a new position in shares of Bank of America in the 3rd quarter worth $29,000. Highline Wealth Partners LLC raised its position in shares of 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 worth $37,000 after acquiring an additional 510 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Bank of America in the 4th quarter worth $42,000. Finally, POM Investment Strategies LLC raised its position in shares of Bank of America by 1,306.5% in the 4th quarter. POM Investment Strategies LLC now owns 1,083 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 1,006 shares in the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Stock Up 4.7 %

Shares of BAC opened at $46.19 on Friday. Bank of America Co. has a 52 week low of $34.03 and a 52 week high of $48.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $354.37 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.21 and a beta of 1.33. The stock’s 50-day moving average price is $45.78 and its 200-day moving average price is $43.56.

Bank of America (NYSE:BAC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. The company’s revenue was up 15.0% compared to the same quarter last year. On average, sell-side analysts predict that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.25%. Bank of America’s payout ratio is 32.30%.

Wall Street Analysts Forecast Growth

BAC has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price target on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company boosted their price target on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Oppenheimer upped their target price on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Truist Financial upped their target price 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. Finally, HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

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.