Fieldview Capital Management LLC Acquires New Stake in Bank of America Corporation $BAC

Fieldview Capital Management LLC acquired a new stake in shares of Bank of America Corporation (NYSE:BAC) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 13,143 shares of the financial services provider’s stock, valued at approximately $723,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. DecisionMap Wealth Management LLC increased its position in Bank of America by 4.7% during the 4th quarter. DecisionMap Wealth Management LLC now owns 4,061 shares of the financial services provider’s stock valued at $223,000 after buying an additional 182 shares in the last quarter. Money Concepts Capital Corp increased its position in Bank of America by 3.8% during the 4th quarter. Money Concepts Capital Corp now owns 4,964 shares of the financial services provider’s stock valued at $273,000 after buying an additional 182 shares in the last quarter. Holistic Financial Partners increased its position in Bank of America by 2.4% during the 4th quarter. Holistic Financial Partners now owns 7,896 shares of the financial services provider’s stock valued at $434,000 after buying an additional 183 shares in the last quarter. Operose Advisors LLC increased its position in Bank of America by 0.9% during the 4th quarter. Operose Advisors LLC now owns 20,409 shares of the financial services provider’s stock valued at $1,123,000 after buying an additional 185 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. increased its position in Bank of America by 1.0% during the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 19,847 shares of the financial services provider’s stock valued at $1,092,000 after buying an additional 187 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BAC shares. Piper Sandler raised their price objective on Bank of America from $53.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Truist Financial increased their target price on Bank of America from $57.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Evercore cut their target price on Bank of America from $70.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. Autonomous Res cut their target price on Bank of America from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Monday, April 6th. Finally, The Goldman Sachs Group increased their target price on Bank of America from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, April 16th. Twenty-two investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and a consensus price target of $61.06.

Insider Activity

In other news, insider Geoffrey S. Greener sold 126,756 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the transaction, the insider directly owned 1,373,397 shares in the company, valued at $72,803,774.97. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.27% of the stock is currently owned by company insiders.

Bank of America Stock Performance

BAC stock opened at $55.89 on Tuesday. The company has a market cap of $396.62 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19. Bank of America Corporation has a 1 year low of $44.06 and a 1 year high of $57.55. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s fifty day moving average price is $52.42 and its 200-day moving average price is $52.44.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.11. The firm had revenue of $30.27 billion for the quarter, compared to the consensus estimate of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the business posted $0.90 EPS. On average, equities analysts forecast that Bank of America Corporation will post 4.45 earnings per share for the current year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, June 5th. Bank of America’s dividend payout ratio (DPR) is 27.72%.

Bank of America Profile

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.