Wealthstream Advisors Inc. Makes New Investment in Bank of America Co. (NYSE:BAC)

Wealthstream Advisors Inc. acquired a new stake in Bank of America Co. (NYSE:BAC) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 4,647 shares of the financial services provider’s stock, valued at approximately $204,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lederer & Associates Investment Counsel CA boosted its holdings in shares of Bank of America by 1.1% in the 4th quarter. Lederer & Associates Investment Counsel CA now owns 20,000 shares of the financial services provider’s stock worth $879,000 after buying an additional 217 shares during the last quarter. Prossimo Advisors LLC raised its position in Bank of America by 2.5% in the fourth quarter. Prossimo Advisors LLC now owns 8,880 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 220 shares during the period. Marino Stram & Associates LLC raised its position in Bank of America by 1.7% in the fourth quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock worth $580,000 after acquiring an additional 222 shares during the period. Keudell Morrison Wealth Management boosted its stake in Bank of America by 2.8% in the fourth quarter. Keudell Morrison Wealth Management now owns 8,291 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 223 shares during the last quarter. Finally, Traveka Wealth LLC grew its position in shares of Bank of America by 2.7% during the 4th quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock valued at $382,000 after acquiring an additional 226 shares during the period. 70.71% of the stock is owned by institutional investors.

Bank of America Trading Down 1.1 %

Bank of America stock opened at $44.80 on Monday. The stock has a market cap of $343.71 billion, a P/E ratio of 13.91, a PEG ratio of 1.22 and a beta of 1.33. Bank of America Co. has a fifty-two week low of $33.37 and a fifty-two week high of $48.08. The firm’s fifty day moving average price is $45.75 and its 200-day moving average price is $43.41. 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 announced 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 analyst estimates of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 EPS. Equities research analysts forecast that Bank of America Co. will post 3.69 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio is currently 32.30%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Oppenheimer lifted their price target on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Morgan Stanley upped their price target on 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. Evercore ISI decreased their price objective on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Truist Financial upped their price objective on shares of Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, January 7th. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.58.

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.