Vise Technologies Inc. Raises Holdings in Bank of America Co. (NYSE:BAC)

by · The Markets Daily

Vise Technologies Inc. increased its stake in shares of Bank of America Co. (NYSE:BAC) by 34.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,317 shares of the financial services provider’s stock after buying an additional 17,823 shares during the quarter. Vise Technologies Inc.’s holdings in Bank of America were worth $3,090,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Headinvest LLC grew its holdings in shares of Bank of America by 13.3% during the fourth quarter. Headinvest LLC now owns 19,633 shares of the financial services provider’s stock worth $863,000 after buying an additional 2,300 shares during the last quarter. Cornerstone Advisory LLC grew its holdings in shares of Bank of America by 8.3% during the fourth quarter. Cornerstone Advisory LLC now owns 23,865 shares of the financial services provider’s stock worth $1,121,000 after buying an additional 1,827 shares during the last quarter. Pacific Center for Financial Services grew its holdings in shares of Bank of America by 24.0% during the fourth quarter. Pacific Center for Financial Services now owns 7,042 shares of the financial services provider’s stock worth $309,000 after buying an additional 1,362 shares during the last quarter. Highview Capital Management LLC DE purchased a new position in shares of Bank of America during the fourth quarter worth about $286,000. Finally, DCM Advisors LLC grew its holdings in shares of Bank of America by 7.5% during the fourth quarter. DCM Advisors LLC now owns 200,656 shares of the financial services provider’s stock worth $8,802,000 after buying an additional 13,945 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Cfra Research raised their price target on Bank of America to $47.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. UBS Group raised their price target on Bank of America from $46.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. Oppenheimer reissued an “outperform” rating on shares of Bank of America in a report on Thursday. Piper Sandler lowered their price objective on Bank of America from $45.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Finally, Barclays lowered their price objective on Bank of America from $58.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

Read Our Latest Stock Report on BAC

Bank of America Stock Up 0.0%

Shares of NYSE BAC opened at $43.27 on Friday. Bank of America Co. has a 52-week low of $33.07 and a 52-week high of $48.08. The firm has a fifty day moving average of $40.31 and a 200-day moving average of $43.60. The stock has a market capitalization of $325.90 billion, a PE ratio of 13.44, a P/E/G ratio of 1.21 and a beta of 1.27. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC – Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating 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 company had revenue of $27.37 billion during the quarter, compared to analysts’ expectations of $26.83 billion. On average, analysts anticipate 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. Stockholders of record on Friday, June 6th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.40%. Bank of America’s dividend payout ratio is presently 30.95%.

Bank of America Profile

(Free Report)

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.

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