Bank of America Co. (NYSE:BAC) is Financial Avengers Inc.'s 8th Largest Position

Financial Avengers Inc. trimmed its position in shares of Bank of America Co. (NYSE:BAC) by 10.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 197,448 shares of the financial services provider's stock after selling 22,835 shares during the quarter. Bank of America makes up approximately 4.1% of Financial Avengers Inc.'s investment portfolio, making the stock its 8th largest position. Financial Avengers Inc.'s holdings in Bank of America were worth $8,678,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Regent Peak Wealth Advisors LLC grew its holdings in Bank of America by 10.3% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 11,971 shares of the financial services provider's stock worth $526,000 after acquiring an additional 1,116 shares during the period. Annex Advisory Services LLC increased its holdings in Bank of America by 4.7% during the 4th quarter. Annex Advisory Services LLC now owns 8,267 shares of the financial services provider's stock worth $363,000 after purchasing an additional 372 shares during the last quarter. Amplius Wealth Advisors LLC boosted its holdings in Bank of America by 3.7% in the fourth quarter. Amplius Wealth Advisors LLC now owns 11,167 shares of the financial services provider's stock worth $491,000 after purchasing an additional 395 shares during the period. Mountain Pacific Investment Advisers LLC boosted its stake in Bank of America by 10.7% during the 4th quarter. Mountain Pacific Investment Advisers LLC now owns 10,786 shares of the financial services provider's stock valued at $474,000 after purchasing an additional 1,043 shares during the period. Finally, Tudor Financial Inc. lifted its stake in shares of Bank of America by 24.5% in the 4th quarter. Tudor Financial Inc. now owns 20,246 shares of the financial services provider's stock worth $890,000 after acquiring an additional 3,982 shares during the period. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America Trading Down 0.3%

NYSE BAC opened at $44.62 on Wednesday. The stock has a market cap of $336.07 billion, a P/E ratio of 13.86, a PEG ratio of 1.21 and a beta of 1.27. 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 company's fifty day simple moving average is $40.23 and its 200-day simple moving average is $43.59. Bank of America Co. has a 52 week low of $33.07 and a 52 week high of $48.08.

Bank of America (NYSE:BAC - Get Free Report) last posted 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 business had revenue of $27.37 billion during the quarter, compared to analysts' expectations of $26.83 billion. Equities research analysts predict that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America's payout ratio is 30.95%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Truist Financial reduced their price objective on Bank of America from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Piper Sandler decreased 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. Oppenheimer increased their price target on shares of Bank of America from $50.00 to $51.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Evercore ISI reduced their target price on Bank of America from $51.00 to $48.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Finally, Cowen began coverage on Bank of America in a report on Wednesday, May 14th. They set a "buy" rating for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $47.50.

Bank of America Company 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.

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