St. Clair Advisors LLC Invests $244,000 in Bank of America Co. (NYSE:BAC)

St. Clair Advisors LLC purchased a new position in shares of Bank of America Co. (NYSE:BAC) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 5,560 shares of the financial services provider’s stock, valued at approximately $244,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Collier Financial bought a new stake in shares of Bank of America during the 4th quarter worth approximately $25,000. Life Planning Partners Inc increased its position in Bank of America by 3,883.2% during the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 545,936 shares in the last quarter. Graney & King LLC acquired a new position in Bank of America during the 4th quarter worth approximately $25,000. Fairway Wealth LLC acquired a new position in Bank of America during the 4th quarter worth approximately $29,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Bank of America during the 4th quarter worth approximately $31,000. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

NYSE BAC opened at $44.66 on Monday. Bank of America Co. has a 52-week low of $33.07 and a 52-week high of $48.08. The company has a 50-day simple moving average of $40.03 and a 200 day simple moving average of $43.56. 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 company has a market capitalization of $336.38 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $27.37 billion during the quarter, compared to the consensus estimate of $26.83 billion. On average, research analysts predict that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.04 dividend on an annualized basis and a yield of 2.33%. Bank of America’s dividend payout ratio (DPR) is presently 30.95%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BAC shares. Baird R W upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. UBS Group upped their price target on shares of Bank of America from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 16th. Piper Sandler decreased their price objective on shares of Bank of America from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Citigroup decreased their price objective on shares of Bank of America from $54.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Finally, Cfra Research increased their target price on shares of Bank of America to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.50.

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.