Signal Advisors Wealth LLC Trims Holdings in Bank of America Co. (NYSE:BAC)

Signal Advisors Wealth LLC lowered its holdings in Bank of America Co. (NYSE:BAC) by 0.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 33,908 shares of the financial services provider’s stock after selling 274 shares during the quarter. Signal Advisors Wealth LLC’s holdings in Bank of America were worth $1,490,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BAC. Fairway Wealth LLC purchased a new position in shares of Bank of America during the 2nd quarter worth approximately $27,000. Kennebec Savings Bank purchased a new stake in Bank of America in the third quarter worth $29,000. Highline Wealth Partners LLC grew its stake in Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 510 shares during the period. Christopher J. Hasenberg Inc raised its holdings in Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 852 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Bank of America during the 3rd quarter valued at $45,000. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BAC shares. Oppenheimer decreased their price target on shares of Bank of America from $57.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Morgan Stanley lowered shares of Bank of America from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $48.00 to $55.00 in a report on Monday, December 9th. Truist Financial began coverage on Bank of America in a research note on Tuesday, January 7th. They issued a “buy” rating and a $52.00 price target on the stock. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Barclays upped their price objective on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Bank of America Trading Down 0.0 %

Shares of Bank of America stock opened at $45.09 on Tuesday. Bank of America Co. has a twelve month low of $31.27 and a twelve month high of $48.08. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average price of $45.61 and a 200-day moving average price of $42.27. The firm has a market cap of $345.97 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 1.55 and a beta of 1.33.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.03. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The business had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.25 billion. During the same quarter last year, the business posted $0.90 EPS. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. Equities research analysts anticipate that Bank of America Co. will post 3.27 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 6th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Friday, December 6th. Bank of America’s payout ratio is 37.82%.

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.