Brown Lisle Cummings Inc. Purchases 1,804 Shares of Bank of America Co. (NYSE:BAC)

Brown Lisle Cummings Inc. increased its holdings in Bank of America Co. (NYSE:BAC) by 4.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,626 shares of the financial services provider’s stock after buying an additional 1,804 shares during the period. Brown Lisle Cummings Inc.’s holdings in Bank of America were worth $1,698,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Two Sigma Advisers LP grew its holdings in shares of Bank of America by 31,021.6% during the third quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider’s stock worth $405,049,000 after purchasing an additional 10,175,100 shares in the last quarter. Swedbank AB lifted its position in Bank of America by 81.4% during the fourth quarter. Swedbank AB now owns 12,776,184 shares of the financial services provider’s stock valued at $561,513,000 after purchasing an additional 5,733,810 shares during the last quarter. KBC Group NV grew its stake in Bank of America by 130.9% in the 4th quarter. KBC Group NV now owns 9,692,279 shares of the financial services provider’s stock worth $425,976,000 after buying an additional 5,493,817 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Bank of America by 193.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider’s stock worth $301,898,000 after buying an additional 5,015,378 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Bank of America by 3,550.7% during the 3rd quarter. International Assets Investment Management LLC now owns 4,547,788 shares of the financial services provider’s stock valued at $1,804,560,000 after buying an additional 4,423,215 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on BAC shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 target price on shares of Bank of America in a research report on Wednesday, October 9th. Wells Fargo & Company upped their price objective on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Truist Financial upped their target price on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Price Performance

BAC opened at $46.23 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market capitalization of $354.72 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.26 and a beta of 1.33. The stock’s 50 day moving average price is $45.83 and its 200-day moving average price is $42.77. Bank of America Co. has a 52-week low of $32.35 and a 52-week high of $48.08.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. The business had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.70 EPS. On average, equities research analysts predict that Bank of America Co. will post 3.67 EPS for the current year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, March 7th. This represents a $1.04 annualized dividend and a yield of 2.25%. Bank of America’s payout ratio is 32.30%.

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.