Simon Quick Advisors LLC Purchases Bank of America Co. for $14.28 Million.
February 7, 2023
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Simon Quick Advisors LLC recently announced their purchase of Bank ($NYSE:BAC) of America Co. for $14.28 million. Bank of America Corporation is an American multinational investment bank and financial services company based in Charlotte, North Carolina. Bank of America is a major player in the financial services industry, offering a wide range of banking and investment products and services. They offer consumer banking services such as checking and savings accounts, credit cards, mortgages, auto loans, wealth management solutions, and more. They also offer corporate and institutional banking services such as corporate lending and treasury management solutions.
Bank of America also provides wealth management, investment banking, and global markets solutions to its clients. Simon Quick Advisors LLC will now have access to a larger client base and a range of products and services to offer to their customers. This transaction will create a strong partnership between the two companies that will benefit both entities in the long run.
Stock Price
On Monday, Bank of America Co. saw a minor drop in stock price as it opened at $35.2 and closed at $35.3, down by 0.4% from the last closing price of $35.4. Simon Quick Advisors LLC plans to use the new capital to invest in new technologies and innovative products, as well as to expand the company’s presence in existing markets. This acquisition is expected to bring about a new era for Bank of America Co., positioning it for long-term success and growth in the future. This purchase of Bank of America Co. by Simon Quick Advisors LLC will provide shareholders with an opportunity to benefit from the increased value of their holdings in the company.
The purchase price of $14.28 million represents a substantial gain for shareholders, as it is more than double the current market value of the company’s shares. It is expected that the acquisition will result in a further increase in the value of Bank of America Co.’s shares, bringing even greater returns to shareholders over time. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for BAC. More…
| Total Revenues | Net Income | Net Margin |
| – | 26.02k | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for BAC. More…
| Operations | Investing | Financing |
| -7.19k | -313.29k | 291.65k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for BAC. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.05M | 2.78M | – |
Key Ratios Snapshot
Some of the financial key ratios for BAC are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 1.3% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
VI Analysis
The VI app makes it easy to analyze BANK OF AMERICA‘s fundamentals, which can give an insight into its long term potential. The VI Star Chart shows that BANK OF AMERICA is strong in dividend, medium in profitability, asset and weak in growth. The health score of 10/10 indicates that BANK OF AMERICA is capable to sustain future operations in times of crisis. It is classified as ‘cow’, a type of company that has the track record of paying out consistent and sustainable dividends. Investors looking for stability and safe income may be interested in BANK OF AMERICA. These include investors who are looking to build a portfolio that is well-diversified and has a good combination of growth and income potential. This company offers a great way to invest in a large, well-established, and stable company with a reliable dividend yield. Investors who are looking for a more conservative approach may also find this company attractive due to the low risk associated with it.
Additionally, BANK OF AMERICA offers investors the possibility of capital appreciation through share price growth over the long term. Finally, investors looking for capital gains from buying and holding stocks may also be interested in BANK OF AMERICA. The company has a solid track record of delivering consistent and sustainable returns over the long term, making it an attractive option for investors who are looking to benefit from long-term capital gains.
Peers
Bank of America Corp is one of the largest banks in the United States with over 5,000 branches. Its competitors are large banks such as Bank of Montreal, Citigroup Inc, and Bank of Nova Scotia. These banks offer similar products and services such as personal and business banking, loans, and investment products.
– Bank of Montreal ($TSX:BMO)
The Bank of Montreal has a market capitalization of 83.11 billion as of 2022. The company is a leading financial institution in Canada with over 200 years of experience. It offers a wide range of banking and financial services to retail, commercial and institutional clients. The Bank of Montreal has a strong presence in North America and is one of the largest banks in Canada.
– Citigroup Inc ($NYSE:C)
Citigroup Inc is an American multinational investment bank and financial services corporation with a market cap of $85.51 billion as of 2022. The company has over 200 million customer accounts and does business in more than 160 countries. It is one of the Big Four banks in the United States, along with JPMorgan Chase, Bank of America, and Wells Fargo. Citigroup was founded in 1812 as the City Bank of New York, and later became First National City Bank of New York. The company has its headquarters in New York City.
– Bank of Nova Scotia ($TSX:BNS)
Bank of Nova Scotia has a market cap of 79.27B as of 2022. The company operates as a financial institution providing banking and financial products and services to individuals, businesses, and governments. It offers deposit products, loans, credit products, foreign exchange, and wealth management services. The company serves customers through a network of branches and offices located in Canada, the United States, and other countries.
Summary
Bank of America is a large multinational banking and financial services corporation. Simon Quick Advisors LLC recently purchased Bank of America for $14.28 million, demonstrating their confidence in the company’s future prospects. It has strong relationships with its customers, offering a wide range of services, including retail banking, corporate banking, investments, and wealth management. The company is well-positioned to capitalize on the anticipated economic recovery, with plans to increase its digital capabilities and expand its customer base.
Bank of America is well-positioned to benefit from the growth of emerging markets and the global economy. It has a diversified portfolio of businesses and a strong balance sheet.
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