Bank of America Co. (NYSE:BAC) Shares Sold by Sapient Capital LLC

Sapient Capital LLC trimmed its stake in shares of Bank of America Co. (NYSE:BAC - Free Report) by 0.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,632,410 shares of the financial services provider's stock after selling 7,689 shares during the period. Bank of America accounts for 1.3% of Sapient Capital LLC's holdings, making the stock its 15th biggest position. Sapient Capital LLC's holdings in Bank of America were worth $68,120,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BAC. Life Planning Partners Inc lifted its holdings in Bank of America by 3,883.2% during the fourth 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 purchased a new position in Bank of America during the fourth quarter valued at $25,000. Fairway Wealth LLC purchased a new position in Bank of America during the fourth quarter valued at $29,000. Vega Investment Solutions purchased a new position in Bank of America during the fourth quarter valued at $30,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Bank of America in the fourth quarter worth about $31,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on BAC. Oppenheimer reissued an "outperform" rating on shares of Bank of America in a research note on Thursday, May 22nd. Royal Bank of Canada decreased their price target on shares of Bank of America from $50.00 to $45.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Baird R W raised shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. Piper Sandler decreased their price target on shares of Bank of America from $45.00 to $42.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Finally, Evercore ISI decreased their price target on shares of Bank of America from $51.00 to $48.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $47.69.

Bank of America Trading Down 1.3%

Shares of BAC traded down $0.59 during trading on Friday, reaching $44.04. 43,276,878 shares of the company traded hands, compared to its average volume of 39,751,425. Bank of America Co. has a twelve month low of $33.07 and a twelve month high of $48.08. The stock has a market cap of $331.67 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 1.21 and a beta of 1.30. The stock has a 50-day simple moving average of $41.50 and a 200-day simple moving average of $43.42. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, beating 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 business had revenue of $27.37 billion during the quarter, compared to analysts' expectations of $26.83 billion. On average, analysts anticipate that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America's dividend payout ratio is presently 30.95%.

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.