Bank of America Co. (NYSE:BAC) Shares Bought by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc increased its stake in shares of Bank of America Co. (NYSE:BAC) by 23.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,620,023 shares of the financial services provider’s stock after acquiring an additional 1,616,091 shares during the period. Bank of America comprises 0.7% of Ensign Peak Advisors Inc’s holdings, making the stock its 22nd largest position. Ensign Peak Advisors Inc owned approximately 0.11% of Bank of America worth $378,850,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Collier Financial purchased a new position in Bank of America in the 4th quarter worth approximately $25,000. Life Planning Partners Inc increased its stake 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 buying an additional 545,936 shares during the period. Graney & King LLC acquired a new stake in shares of Bank of America in the fourth quarter valued at $25,000. Fairway Wealth LLC purchased a new position in shares of Bank of America in the 4th quarter valued at about $29,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Bank of America in the 4th quarter valued at approximately $31,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Stock Up 1.7 %

BAC opened at $41.62 on Friday. 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 $313.48 billion, a P/E ratio of 12.93, a P/E/G ratio of 1.21 and a beta of 1.27. The stock has a fifty day moving average of $39.70 and a 200-day moving average of $43.48. Bank of America Co. has a fifty-two week low of $33.07 and a fifty-two week high of $48.08.

Bank of America (NYSE:BAC) last announced 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 firm had revenue of $27.37 billion for the quarter, compared to the consensus estimate of $26.83 billion. On average, equities analysts expect that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America’s payout ratio is 30.95%.

Analysts Set New Price Targets

BAC has been the topic of a number of research analyst reports. Robert W. Baird upgraded Bank of America from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $45.00 to $50.00 in a research report on Friday, March 7th. Piper Sandler cut their target price on Bank of America from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Cfra Research upped their price target on Bank of America to $47.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. Phillip Securities raised Bank of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, April 17th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Bank of America from $49.50 to $43.50 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and an average target price of $47.25.

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.