Bank of America Co. (NYSE:BAC) Position Trimmed by Teewinot Capital Advisers L.L.C.

Teewinot Capital Advisers L.L.C. decreased its stake in Bank of America Co. (NYSE:BAC) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,486,144 shares of the financial services provider's stock after selling 57,385 shares during the quarter. Bank of America makes up 6.7% of Teewinot Capital Advisers L.L.C.'s portfolio, making the stock its 7th biggest holding. Teewinot Capital Advisers L.L.C.'s holdings in Bank of America were worth $65,316,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in BAC. Lederer & Associates Investment Counsel CA boosted its stake in shares of Bank of America by 1.1% during the 4th quarter. Lederer & Associates Investment Counsel CA now owns 20,000 shares of the financial services provider's stock worth $879,000 after acquiring an additional 217 shares in the last quarter. Avalon Trust Co boosted its stake in shares of Bank of America by 14.6% during the 4th quarter. Avalon Trust Co now owns 1,719 shares of the financial services provider's stock worth $76,000 after acquiring an additional 219 shares in the last quarter. Prossimo Advisors LLC raised its position in shares of Bank of America by 2.5% during the 4th quarter. Prossimo Advisors LLC now owns 8,880 shares of the financial services provider's stock worth $390,000 after purchasing an additional 220 shares during the last quarter. Marino Stram & Associates LLC raised its position in shares of Bank of America by 1.7% during the 4th quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider's stock worth $580,000 after purchasing an additional 222 shares during the last quarter. Finally, Keudell Morrison Wealth Management raised its position in shares of Bank of America by 2.8% during the 4th quarter. Keudell Morrison Wealth Management now owns 8,291 shares of the financial services provider's stock worth $364,000 after purchasing an additional 223 shares during the last quarter. Institutional investors own 70.71% of the company's stock.

Bank of America Stock Performance

Bank of America stock opened at $44.66 on Friday. The firm has a 50 day simple moving average of $40.03 and a 200-day simple moving average of $43.55. Bank of America Co. has a 1-year low of $33.07 and a 1-year high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market cap of $336.38 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share 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. On average, analysts expect that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BAC. Evercore ISI reduced their price target on shares of Bank of America from $51.00 to $48.00 and set an "outperform" rating for the company in a research report on Tuesday, April 1st. Royal Bank of Canada reduced their price target on shares of Bank of America from $50.00 to $45.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods reduced their price target on shares of Bank of America from $55.00 to $52.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. Oppenheimer upped their price target on shares of Bank of America from $50.00 to $51.00 and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, Truist Financial reduced their price target on shares of 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $47.50.

About Bank of America

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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