4,457 Shares in Bank of America Corporation $BAC Acquired by Farmers National Bank

Farmers National Bank acquired a new stake in Bank of America Corporation (NYSE:BAC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,457 shares of the financial services provider’s stock, valued at approximately $211,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wealth Advisory Solutions LLC raised its holdings in shares of Bank of America by 4.4% in the second quarter. Wealth Advisory Solutions LLC now owns 5,126 shares of the financial services provider’s stock valued at $243,000 after buying an additional 214 shares during the last quarter. Ballast Advisors LLC grew its holdings in Bank of America by 4.1% during the 2nd quarter. Ballast Advisors LLC now owns 5,489 shares of the financial services provider’s stock worth $260,000 after acquiring an additional 218 shares during the last quarter. Cyndeo Wealth Partners LLC increased its position in Bank of America by 0.8% in the 2nd quarter. Cyndeo Wealth Partners LLC now owns 28,394 shares of the financial services provider’s stock valued at $1,344,000 after acquiring an additional 221 shares in the last quarter. Centurion Wealth Management LLC raised its stake in shares of Bank of America by 2.3% in the second quarter. Centurion Wealth Management LLC now owns 9,862 shares of the financial services provider’s stock worth $467,000 after acquiring an additional 225 shares during the last quarter. Finally, Nova Wealth Management Inc. lifted its position in shares of Bank of America by 75.2% during the second quarter. Nova Wealth Management Inc. now owns 529 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 227 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

Bank of America stock opened at $51.89 on Tuesday. 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 firm has a market capitalization of $378.93 billion, a P/E ratio of 14.14, a PEG ratio of 1.99 and a beta of 1.34. The business has a 50-day moving average of $51.78 and a 200-day moving average of $48.56. Bank of America Corporation has a 1 year low of $33.06 and a 1 year high of $54.69.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.13. The firm had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $27.05 billion. Bank of America had a net margin of 15.70% and a return on equity of 10.76%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.81 earnings per share. On average, equities analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, December 5th will be given a $0.28 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.2%. Bank of America’s dividend payout ratio is currently 30.52%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Erste Group Bank raised shares of Bank of America from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Argus boosted their target price on Bank of America from $53.00 to $58.00 in a research report on Friday, October 17th. Phillip Securities raised their price target on Bank of America from $50.00 to $56.00 in a report on Tuesday, October 21st. Barclays lifted their price objective on Bank of America from $54.00 to $59.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, Evercore ISI upped their target price on shares of Bank of America from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Twenty-three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.77.

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.