Bison Wealth LLC lowered its position in Bank of America Co. (NYSE:BAC - Free Report) by 56.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 26,369 shares of the financial services provider's stock after selling 33,688 shares during the period. Bison Wealth LLC's holdings in Bank of America were worth $1,159,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of BAC. Collier Financial bought a new stake in Bank of America during the fourth quarter valued at $25,000. Life Planning Partners Inc boosted its position in shares of Bank of America by 3,883.2% during the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 545,936 shares in the last quarter. Graney & King LLC acquired a new stake in Bank of America during the fourth quarter worth approximately $25,000. Fairway Wealth LLC bought a new stake in Bank of America in the fourth quarter worth approximately $29,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Bank of America in the fourth quarter valued at approximately $31,000. 70.71% of the stock is owned by institutional investors.
Bank of America Stock Up 0.6 %
BAC stock opened at $40.00 on Wednesday. The stock has a market cap of $304.11 billion, a P/E ratio of 12.42, a P/E/G ratio of 1.21 and a beta of 1.24. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The stock's fifty day simple moving average is $40.25 and its two-hundred day simple moving average is $43.56. Bank of America Co. has a 1-year low of $33.07 and a 1-year high of $48.08.
Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $26.83 billion. Analysts expect that Bank of America Co. will post 3.7 EPS for the current year.
Bank of America Dividend Announcement
The business also recently declared 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 2.60%. Bank of America's payout ratio is currently 30.95%.
Analyst Ratings Changes
Several analysts have recently weighed in on BAC shares. Truist Financial lowered their price objective on shares of Bank of America from $50.00 to $47.00 and set a "buy" rating for the company in a research note 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 note on Thursday, April 17th. UBS Group increased their price objective on shares of Bank of America from $46.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Oppenheimer boosted their target price on Bank of America from $50.00 to $51.00 and gave the company an "outperform" rating in a research report on Monday. Finally, Keefe, Bruyette & Woods dropped their price target on Bank of America from $55.00 to $52.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. One investment 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. According to data from MarketBeat.com, Bank of America presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.25.
Get Our Latest Research Report on Bank of America
Bank of America Company 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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