Aviso Wealth Management Buys 2,967 Shares of Bank of America Co. (NYSE:BAC)

Aviso Wealth Management increased its stake in Bank of America Co. (NYSE:BAC) by 12.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,749 shares of the financial services provider’s stock after buying an additional 2,967 shares during the quarter. Aviso Wealth Management’s holdings in Bank of America were worth $1,176,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BAC. Collier Financial purchased a new stake in Bank of America in the 4th quarter worth about $25,000. Life Planning Partners Inc raised its holdings in shares of Bank of America by 3,883.2% in the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after buying an additional 545,936 shares during the period. Graney & King LLC bought a new stake in shares of Bank of America during the 4th quarter worth approximately $25,000. Fairway Wealth LLC purchased a new position in Bank of America during the 4th quarter valued at $29,000. Finally, Highline Wealth Partners LLC grew its position 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 acquiring an additional 510 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Up 0.6 %

Shares of Bank of America stock opened at $43.31 on Wednesday. Bank of America Co. has a fifty-two week low of $34.15 and a fifty-two 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. The firm has a market capitalization of $329.28 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.21 and a beta of 1.32. The stock has a 50 day moving average of $44.72 and a 200 day moving average of $43.87.

Bank of America (NYSE:BAC) last posted its quarterly earnings data 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. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same quarter last year, the company posted $0.70 EPS. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. As a group, research analysts predict that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The company also recently disclosed 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 of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.40%. Bank of America’s payout ratio is 32.30%.

Analysts Set New Price Targets

Several research firms have issued reports on BAC. Keefe, Bruyette & Woods boosted their price objective 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. Piper Sandler dropped their price target on 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. Barclays increased their target price on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their price target for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Finally, Truist Financial lifted 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.45.

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.