Voisard Asset Management Group Inc. Takes Position in Bank of America Co. (NYSE:BAC)

Voisard Asset Management Group Inc. bought a new stake in Bank of America Co. (NYSE:BAC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,567 shares of the financial services provider’s stock, valued at approximately $187,000.

A number of other institutional investors also recently modified their holdings of the business. Fortis Group Advisors LLC bought a new stake in Bank of America during the third quarter worth about $25,000. Criterion Capital Advisors LLC acquired a new stake in Bank of America during the 4th quarter valued at approximately $32,000. Mark Sheptoff Financial Planning LLC increased its position in Bank of America by 431.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 1,062 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 862 shares during the period. ZRC Wealth Management LLC increased its position in Bank of America by 192.3% during the 4th quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 750 shares during the period. Finally, Private Ocean LLC increased its position in Bank of America by 34.0% during the 4th quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 325 shares during the period. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Down 0.1 %

Shares of BAC traded down $0.02 during trading hours on Friday, reaching $39.24. The stock had a trading volume of 32,118,117 shares, compared to its average volume of 39,004,617. Bank of America Co. has a 12 month low of $24.96 and a 12 month high of $40.19. The firm has a 50-day simple moving average of $38.23 and a 200 day simple moving average of $35.43. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $306.87 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 1.74 and a beta of 1.36.

Bank of America (NYSE:BACGet Free Report) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.06. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The business had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $25.49 billion. During the same period last year, the business earned $0.94 EPS. The business’s revenue was down 1.7% on a year-over-year basis. Equities research analysts predict that Bank of America Co. will post 3.23 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Friday, June 7th. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.

Analyst Ratings Changes

A number of analysts have weighed in on BAC shares. Piper Sandler increased their target price on shares of Bank of America from $35.00 to $37.00 and gave the company an “underweight” rating in a research report on Tuesday, June 4th. StockNews.com cut Bank of America from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Wells Fargo & Company increased their price target on Bank of America from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Evercore ISI increased their price target on Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Wolfe Research upgraded Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Friday, April 19th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $39.79.

Check Out Our Latest Analysis on BAC

Bank of America Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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