Collective Family Office LLC Has $302,000 Stock Holdings in Bank of America Co. (NYSE:BAC)

Collective Family Office LLC raised its holdings in Bank of America Co. (NYSE:BAC) by 22.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,967 shares of the financial services provider’s stock after buying an additional 1,445 shares during the period. Collective Family Office LLC’s holdings in Bank of America were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in BAC. Fortis Group Advisors LLC bought a new position in shares of Bank of America in the third quarter valued at $25,000. Livelsberger Financial Advisory bought a new position in shares of Bank of America in the fourth quarter valued at $28,000. Criterion Capital Advisors LLC bought a new position in shares of Bank of America in the fourth quarter valued at $32,000. Mark Sheptoff Financial Planning LLC lifted its stake in shares of Bank of America by 431.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 1,062 shares of the financial services provider’s stock valued at $36,000 after buying an additional 862 shares in the last quarter. Finally, ZRC Wealth Management LLC lifted its stake in shares of Bank of America by 192.3% in the fourth quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock valued at $38,000 after buying an additional 750 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BAC. Citigroup raised their price objective on shares of Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Keefe, Bruyette & Woods raised shares of Bank of America from a “market perform” rating to an “outperform” rating and raised their price target for the company from $37.00 to $46.00 in a research report on Friday, June 14th. Jefferies Financial Group raised their price target on shares of Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Erste Group Bank raised shares of Bank of America from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Finally, Piper Sandler raised their price target on shares of Bank of America from $35.00 to $37.00 and gave the company an “underweight” rating in a research report on Tuesday, June 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $39.79.

Bank of America Stock Performance

Shares of BAC stock opened at $40.00 on Friday. The firm has a market cap of $312.81 billion, a price-to-earnings ratio of 13.84, a P/E/G ratio of 1.78 and a beta of 1.36. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79. Bank of America Co. has a 52 week low of $24.96 and a 52 week high of $40.31. The firm’s 50-day simple moving average is $38.46 and its two-hundred day simple moving average is $35.69.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.77 by $0.06. The business had revenue of $25.82 billion for the quarter, compared to analyst estimates of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 earnings per share. As a group, equities analysts forecast that Bank of America Co. will post 3.21 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.24 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.96 annualized dividend and a dividend yield of 2.40%. Bank of America’s payout ratio is 33.22%.

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.