HC Advisors LLC Has $444,000 Holdings in Bank of America Co. (NYSE:BAC)

HC Advisors LLC lifted its position in shares of Bank of America Co. (NYSE:BAC) by 15.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,104 shares of the financial services provider’s stock after purchasing an additional 1,339 shares during the period. HC Advisors LLC’s holdings in Bank of America were worth $444,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Accent Capital Management LLC raised its position in Bank of America by 43.0% during the third quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider’s stock valued at $1,567,000 after purchasing an additional 11,873 shares in the last quarter. Summit Global Investments increased its holdings in shares of Bank of America by 237.6% during the third quarter. Summit Global Investments now owns 51,278 shares of the financial services provider’s stock worth $2,035,000 after buying an additional 36,089 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Bank of America by 1.2% during the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock worth $5,546,871,000 after buying an additional 1,700,141 shares in the last quarter. Clarendon Private LLC acquired a new position in shares of Bank of America during the fourth quarter worth $798,000. Finally, Baker Avenue Asset Management LP increased its holdings in shares of Bank of America by 125.8% during the third quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider’s stock worth $2,421,000 after buying an additional 33,983 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BAC shares. Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Piper Sandler cut their price target on shares of 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. Keefe, Bruyette & Woods increased their price objective on shares of 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 increased 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. Finally, Morgan Stanley increased their price objective on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Stock Up 0.5 %

Bank of America stock opened at $44.17 on Friday. Bank of America Co. has a twelve month low of $34.03 and a twelve month high of $48.08. The firm has a 50 day moving average price of $45.74 and a 200-day moving average price of $43.50. The company has a market capitalization of $338.87 billion, a P/E ratio of 13.72, a P/E/G ratio of 1.21 and a beta of 1.33. 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 released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same period in the prior year, the firm earned $0.70 EPS. The company’s revenue was up 15.0% compared to the same quarter last year. As a group, equities analysts predict that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

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 given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio is currently 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.