Roxbury Financial LLC Makes New $115,000 Investment in Bank of America Co. (NYSE:BAC)

Roxbury Financial LLC purchased a new stake in Bank of America Co. (NYSE:BAC) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 2,418 shares of the financial services provider’s stock, valued at approximately $115,000.

A number of other hedge funds have also modified their holdings of BAC. Collier Financial acquired a new position in Bank of America in the fourth quarter valued at about $25,000. Life Planning Partners Inc lifted its holdings in shares of Bank of America by 3,883.2% in the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 545,936 shares during the last quarter. Kennebec Savings Bank purchased a new position in shares of Bank of America during the 3rd quarter worth approximately $29,000. Highline Wealth Partners LLC increased its holdings 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. Finally, Retirement Wealth Solutions LLC purchased a new stake in Bank of America in the fourth quarter valued at approximately $42,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Truist Financial lifted their price objective on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Evercore ISI cut their price target on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. 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 note on Friday, January 17th. Keefe, Bruyette & Woods upped their target price on shares of Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Oppenheimer raised their price target on shares of Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Price Performance

Shares of NYSE:BAC opened at $46.98 on Friday. 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 12 month low of $32.49 and a 12 month high of $48.08. The firm has a market capitalization of $360.47 billion, a P/E ratio of 14.59, a P/E/G ratio of 1.29 and a beta of 1.33. The company’s fifty day moving average price is $45.75 and its 200 day moving average price is $43.05.

Bank of America (NYSE:BAC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. The business had revenue of $25.30 billion during 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 business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 EPS. As a group, sell-side analysts predict that Bank of America Co. will post 3.69 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a $0.26 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.21%. 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.