Community Bank & Trust Waco Texas Reduces Position in Bank of America Co. (NYSE:BAC)

Community Bank & Trust Waco Texas reduced its position in Bank of America Co. (NYSE:BAC) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,381 shares of the financial services provider’s stock after selling 470 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in Bank of America were worth $1,379,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lederer & Associates Investment Counsel CA increased its position in shares of Bank of America by 1.1% during the fourth quarter. Lederer & Associates Investment Counsel CA now owns 20,000 shares of the financial services provider’s stock worth $879,000 after buying an additional 217 shares during the period. Marino Stram & Associates LLC increased its position in shares of Bank of America by 1.7% during the fourth quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock worth $580,000 after buying an additional 222 shares during the period. Keudell Morrison Wealth Management grew its holdings in Bank of America by 2.8% in the fourth quarter. Keudell Morrison Wealth Management now owns 8,291 shares of the financial services provider’s stock worth $364,000 after purchasing an additional 223 shares during the period. Traveka Wealth LLC grew its holdings in Bank of America by 2.7% in the fourth quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 226 shares during the period. Finally, Longfellow Investment Management Co. LLC grew its holdings in 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 purchasing an additional 227 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 $46.65 on Tuesday. The company has a 50 day moving average of $45.77 and a 200 day moving average of $42.93. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The stock has a market cap of $357.91 billion, a P/E ratio of 14.49, a P/E/G ratio of 1.29 and a beta of 1.33. Bank of America Co. has a 12 month low of $32.35 and a 12 month high of $48.08.

Bank of America (NYSE:BAC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate 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 business had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same period in the previous year, the business earned $0.70 earnings per share. The firm’s revenue was up 15.0% on a year-over-year basis. As a group, sell-side analysts forecast that Bank of America Co. will post 3.69 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.23%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is currently 32.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Evercore ISI reduced their price target on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Truist Financial raised their price target on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Oppenheimer raised their price target on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Barclays raised their price target on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and an average target price 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.