Marshall & Sterling Wealth Advisors Inc. Makes New Investment in Bank of America Co. (NYSE:BAC)

Marshall & Sterling Wealth Advisors Inc. acquired a new position in Bank of America Co. (NYSE:BAC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 707 shares of the financial services provider’s stock, valued at approximately $31,000.

Other institutional investors have also added to or reduced their stakes in the company. Collier Financial bought a new stake in Bank of America in the 4th quarter worth about $25,000. Life Planning Partners Inc grew its position in Bank of America by 3,883.2% in 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 bought a new stake in Bank of America in the 4th quarter worth about $25,000. Fairway Wealth LLC bought a new stake in Bank of America in the 4th quarter worth about $29,000. Finally, Glass Jacobson Investment Advisors llc grew its position in shares of Bank of America by 53.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 276 shares during the period. 70.71% of the stock is owned by institutional investors.

Bank of America Stock Performance

NYSE BAC opened at $39.78 on Tuesday. Bank of America Co. has a 1 year low of $33.07 and a 1 year high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $302.44 billion, a PE ratio of 12.35, a P/E/G ratio of 1.21 and a beta of 1.24. The company’s 50 day simple moving average is $40.36 and its two-hundred day simple moving average is $43.59.

Bank of America (NYSE:BAC) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $26.83 billion. Analysts predict that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America’s dividend payout ratio is presently 30.95%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BAC shares. Morgan Stanley increased their target price on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Truist Financial reduced their target price on shares of Bank of America from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. UBS Group increased their target price 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. Phillip Securities raised shares of Bank of America from a “moderate buy” rating to a “strong-buy” rating in a research report on Thursday, April 17th. Finally, Robert W. Baird raised shares of Bank of America from a “neutral” rating to an “outperform” rating and increased their target price for the company from $45.00 to $50.00 in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus 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.