J.W. Cole Advisors Inc. Purchases 2,834 Shares of Bank of America Co. (NYSE:BAC)

J.W. Cole Advisors Inc. raised its stake in Bank of America Co. (NYSE:BAC) by 2.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 110,437 shares of the financial services provider’s stock after purchasing an additional 2,834 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in Bank of America were worth $4,854,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BAC. Swedbank AB lifted its position in Bank of America by 0.7% in the third quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider’s stock valued at $279,441,000 after purchasing an additional 50,849 shares during the last quarter. Onyx Bridge Wealth Group LLC lifted its position in Bank of America by 5.0% in the third quarter. Onyx Bridge Wealth Group LLC now owns 9,829 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 467 shares during the last quarter. Precedent Wealth Partners LLC raised its holdings in shares of Bank of America by 18.2% during the third quarter. Precedent Wealth Partners LLC now owns 33,864 shares of the financial services provider’s stock valued at $1,344,000 after acquiring an additional 5,222 shares in the last quarter. Net Worth Advisory Group bought a new position in shares of Bank of America during the third quarter valued at approximately $232,000. Finally, Accurate Wealth Management LLC lifted its stake in Bank of America by 1.9% in the third quarter. Accurate Wealth Management LLC now owns 34,140 shares of the financial services provider’s stock worth $1,438,000 after acquiring an additional 641 shares during the period. Institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price target on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Morgan Stanley boosted their price target 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, Piper Sandler reduced 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. One 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Trading Up 1.4 %

Shares of NYSE BAC opened at $46.98 on Friday. The firm’s 50 day moving average price is $45.75 and its 200-day moving average price is $43.09. The company has a market cap of $360.47 billion, a PE ratio of 14.59, a P/E/G ratio of 1.29 and a beta of 1.33. Bank of America Co. has a 52-week low of $32.49 and a 52-week high of $48.08. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78.

Bank of America (NYSE:BAC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.05. The firm had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 earnings per share. On average, equities research analysts expect that Bank of America Co. will post 3.69 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company 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 is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.21%. Bank of America’s dividend payout ratio is presently 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.