Bank of America Co. (NYSE:BAC) Holdings Reduced by First Financial Bank Trust Division

First Financial Bank Trust Division lowered its position in shares of Bank of America Co. (NYSE:BAC - Free Report) by 6.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 202,079 shares of the financial services provider's stock after selling 13,339 shares during the quarter. First Financial Bank Trust Division's holdings in Bank of America were worth $8,433,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in Bank of America by 30.0% during the fourth quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock worth $4,785,000 after purchasing an additional 25,143 shares during the period. Foundations Investment Advisors LLC raised its stake in shares of Bank of America by 3.3% in the 4th quarter. Foundations Investment Advisors LLC now owns 50,703 shares of the financial services provider's stock valued at $2,228,000 after acquiring an additional 1,599 shares during the period. Nilsine Partners LLC raised its stake in shares of Bank of America by 15.1% in the 4th quarter. Nilsine Partners LLC now owns 31,741 shares of the financial services provider's stock valued at $1,395,000 after acquiring an additional 4,166 shares during the period. YHB Investment Advisors Inc. raised its stake in shares of Bank of America by 32.0% in the 4th quarter. YHB Investment Advisors Inc. now owns 20,285 shares of the financial services provider's stock valued at $892,000 after acquiring an additional 4,921 shares during the period. Finally, Bensler LLC purchased a new position in shares of Bank of America in the 4th quarter valued at $241,000. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Stock Down 0.2%

Shares of BAC traded down $0.10 during midday trading on Friday, hitting $44.14. The company had a trading volume of 66,528,527 shares, compared to its average volume of 39,868,402. The company's 50 day moving average price is $40.46 and its 200 day moving average price is $43.56. The stock has a market cap of $332.46 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.21 and a beta of 1.27. Bank of America Co. has a 52 week low of $33.07 and a 52 week high of $48.08. 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 released its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, topping 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 company had revenue of $27.37 billion during the quarter, compared to the consensus estimate of $26.83 billion. On average, equities research analysts predict that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.36%. The ex-dividend date is Friday, June 6th. Bank of America's dividend payout ratio (DPR) is presently 30.95%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Truist Financial cut their target price on shares of Bank of America from $50.00 to $47.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. TD Cowen assumed coverage on shares of Bank of America in a research note on Thursday, May 15th. They issued a "buy" rating and a $53.00 target price on the stock. Evercore ISI cut their target price 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. 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. Finally, Argus cut their target price on shares of Bank of America from $53.00 to $47.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, Bank of America presently has a consensus rating of "Moderate Buy" and an average 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.