Stableford Capital II LLC Has $1.04 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

Stableford Capital II LLC trimmed its position in Bank of America Co. (NYSE:BAC) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,764 shares of the financial services provider’s stock after selling 496 shares during the quarter. Stableford Capital II LLC’s holdings in Bank of America were worth $1,044,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BAC. Geode Capital Management LLC raised its stake in shares of Bank of America by 1.2% during the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock worth $5,546,871,000 after buying an additional 1,700,141 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Bank of America by 4.0% during the 3rd quarter. Fisher Asset Management LLC now owns 45,215,832 shares of the financial services provider’s stock valued at $1,794,164,000 after acquiring an additional 1,731,003 shares during the last quarter. Sanders Capital LLC lifted its stake in shares of Bank of America by 2.8% in the 3rd quarter. Sanders Capital LLC now owns 22,341,213 shares of the financial services provider’s stock valued at $886,499,000 after purchasing an additional 601,211 shares during the period. Diamond Hill Capital Management Inc. boosted its position in shares of Bank of America by 0.4% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 17,042,952 shares of the financial services provider’s stock worth $676,264,000 after purchasing an additional 59,853 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Bank of America by 3.8% during the third quarter. Principal Financial Group Inc. now owns 15,415,630 shares of the financial services provider’s stock worth $611,692,000 after purchasing an additional 569,385 shares during the period. 70.71% of the stock is owned by institutional investors.

Bank of America Price Performance

Shares of NYSE BAC opened at $46.25 on Friday. 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 business has a 50-day moving average of $45.83 and a 200-day moving average of $42.79. The stock has a market capitalization of $354.84 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.27 and a beta of 1.33. Bank of America Co. has a fifty-two week low of $32.35 and a fifty-two week high of $48.08.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same period last year, the company earned $0.70 earnings per share. The business’s revenue was up 15.0% compared to the same quarter last year. As a group, sell-side analysts predict that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a $0.26 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.25%. Bank of America’s payout ratio is 32.30%.

Analyst Ratings Changes

BAC has been the subject of several analyst reports. Piper Sandler decreased their target price on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Oppenheimer upped their target price on shares of Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Finally, HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

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.