Retirement Planning Group LLC NY Buys Shares of 10,772 Bank of America Co. (NYSE:BAC)

Retirement Planning Group LLC NY bought a new stake in Bank of America Co. (NYSE:BAC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,772 shares of the financial services provider’s stock, valued at approximately $473,000.

Other large investors 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 about $25,000. Life Planning Partners Inc boosted its stake in shares of 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 acquiring an additional 545,936 shares in the last quarter. Graney & King LLC bought a new stake in shares of Bank of America during the 4th quarter worth about $25,000. Fairway Wealth LLC bought a new stake in shares of Bank of America during the 4th quarter worth about $29,000. Finally, Vega Investment Solutions bought a new stake in shares of Bank of America during the 4th quarter worth about $30,000. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Down 0.3%

Bank of America stock opened at $43.20 on Friday. The business has a 50 day moving average price of $40.34 and a two-hundred day moving average price of $43.61. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The stock has a market cap of $325.38 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27. Bank of America Co. has a 12 month low of $33.07 and a 12 month high of $48.08.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm had revenue of $27.37 billion during the quarter, compared to analysts’ expectations of $26.83 billion. As a group, equities analysts forecast that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be issued a $0.26 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.41%. Bank of America’s payout ratio is presently 30.95%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BAC. Royal Bank of Canada decreased their price target on Bank of America from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, April 16th. Citigroup cut their price objective on 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. Piper Sandler cut their price objective on 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. UBS Group boosted their price objective on Bank of America from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, April 16th. Finally, Evercore ISI cut their price objective on Bank of America from $51.00 to $48.00 and set an “outperform” rating for the company in a research report on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, 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.