Siemens Fonds Invest GmbH Decreases Stock Holdings in Bank of America Co. (NYSE:BAC)

Siemens Fonds Invest GmbH lessened its holdings in shares of Bank of America Co. (NYSE:BAC - Free Report) by 94.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,618 shares of the financial services provider's stock after selling 206,604 shares during the quarter. Siemens Fonds Invest GmbH's holdings in Bank of America were worth $555,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Collier Financial bought a new position in shares of Bank of America during the fourth quarter valued at $25,000. Life Planning Partners Inc boosted its position in Bank of America by 3,883.2% in the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider's stock worth $25,000 after purchasing an additional 545,936 shares during the last quarter. Graney & King LLC purchased a new position in Bank of America in the fourth quarter worth about $25,000. Fairway Wealth LLC purchased a new position in Bank of America in the fourth quarter worth about $29,000. Finally, Vega Investment Solutions purchased a new position in Bank of America in the fourth quarter worth about $30,000. Institutional investors own 70.71% of the company's stock.

Wall Street Analysts Forecast Growth

BAC has been the topic of a number of analyst reports. Piper Sandler lowered their price objective on Bank of America from $45.00 to $42.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Cowen initiated coverage on Bank of America in a research report on Wednesday, May 14th. They set a "buy" rating on the stock. Robert W. Baird raised Bank of America from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $45.00 to $50.00 in a research report on Friday, March 7th. Truist Financial lowered their price objective on Bank of America from $50.00 to $47.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Finally, Baird R W raised Bank of America from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $47.50.

Bank of America Trading Down 0.2%

BAC stock traded down $0.10 during mid-day trading on Friday, reaching $44.14. 66,528,527 shares of the stock traded hands, compared to its average volume of 39,868,388. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. Bank of America Co. has a one year low of $33.07 and a one year high of $48.08. The stock has a market capitalization of $332.46 billion, a PE ratio of 13.71, a PEG ratio of 1.21 and a beta of 1.27. The business has a 50-day moving average price of $40.46 and a two-hundred day moving average price of $43.56.

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 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 for the quarter, compared to analysts' expectations of $26.83 billion. Equities research 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 announced 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. 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 currently 30.95%.

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.