CreativeOne Wealth LLC Has $4.80 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

CreativeOne Wealth LLC boosted its holdings in shares of Bank of America Co. (NYSE:BAC) by 5.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 109,163 shares of the financial services provider’s stock after buying an additional 5,462 shares during the period. CreativeOne Wealth LLC’s holdings in Bank of America were worth $4,798,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Bank of America in the fourth quarter worth approximately $5,226,989,000. Amundi increased its stake in Bank of America by 37.1% in the 4th quarter. Amundi now owns 37,819,980 shares of the financial services provider’s stock valued at $1,747,658,000 after buying an additional 10,231,001 shares during the period. Swedbank AB lifted its position in Bank of America by 81.4% in the 4th quarter. Swedbank AB now owns 12,776,184 shares of the financial services provider’s stock worth $561,513,000 after buying an additional 5,733,810 shares in the last quarter. KBC Group NV boosted its stake in shares of Bank of America by 130.9% during the 4th quarter. KBC Group NV now owns 9,692,279 shares of the financial services provider’s stock valued at $425,976,000 after buying an additional 5,493,817 shares during the period. Finally, APG Asset Management N.V. grew its holdings in shares of Bank of America by 381.9% during the 4th quarter. APG Asset Management N.V. now owns 6,758,370 shares of the financial services provider’s stock valued at $286,847,000 after acquiring an additional 5,355,962 shares in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on BAC shares. Oppenheimer lifted their price objective 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. Citigroup reduced their price target on Bank of America from $54.00 to $50.00 and set a “buy” rating for the company in a report on Monday, March 24th. JPMorgan Chase & Co. lowered their price target on Bank of America from $49.50 to $43.50 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Morgan Stanley raised their price objective on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Finally, UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.31.

Bank of America Stock Performance

NYSE BAC opened at $36.64 on Tuesday. The company’s fifty day moving average is $42.04 and its two-hundred day moving average is $43.70. Bank of America Co. has a 52-week low of $33.07 and a 52-week high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $278.57 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 1.21 and a beta of 1.24.

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, topping analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the business earned $0.70 earnings per share. Equities research analysts forecast that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date was Friday, March 7th. Bank of America’s dividend payout ratio is presently 32.30%.

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.