Bank of America Co. (NYSE:BAC) Shares Sold by Solutions 4 Wealth Ltd

Solutions 4 Wealth Ltd lowered its position in Bank of America Co. (NYSE:BAC) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,210 shares of the financial services provider’s stock after selling 382 shares during the quarter. Solutions 4 Wealth Ltd’s holdings in Bank of America were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BAC. Lederer & Associates Investment Counsel CA boosted its stake in Bank of America by 1.1% in the fourth quarter. Lederer & Associates Investment Counsel CA now owns 20,000 shares of the financial services provider’s stock worth $879,000 after purchasing an additional 217 shares in the last quarter. Marino Stram & Associates LLC raised its holdings in shares of Bank of America by 1.7% in the fourth quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock valued at $580,000 after buying an additional 222 shares during the last quarter. Keudell Morrison Wealth Management lifted its position in 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 buying an additional 223 shares in the last quarter. Traveka Wealth LLC grew its holdings in Bank of America by 2.7% during the 4th quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 226 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC raised its stake in shares of Bank of America by 0.6% in the third quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider’s stock worth $1,484,000 after acquiring an additional 227 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Stock Up 1.3 %

BAC stock opened at $47.74 on Friday. The business has a 50-day moving average of $45.78 and a 200-day moving average of $42.85. Bank of America Co. has a fifty-two week low of $32.35 and a fifty-two week high of $48.08. The stock has a market capitalization of $366.33 billion, a P/E ratio of 14.83, a P/E/G ratio of 1.26 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 earnings per share. On average, sell-side analysts anticipate that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s dividend payout ratio is currently 32.30%.

Wall Street Analyst Weigh In

Several research firms have recently commented on BAC. Evercore ISI decreased their price target on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and increased their price objective for the company from $46.00 to $54.00 in a research report on Friday, November 8th. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods lifted their price objective on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $48.58.

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.