Bank of America Co. (NYSE:BAC) Shares Sold by Advisor OS LLC

Advisor OS LLC lessened its stake in shares of Bank of America Co. (NYSE:BAC) by 20.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 40,222 shares of the financial services provider’s stock after selling 10,391 shares during the period. Advisor OS LLC’s holdings in Bank of America were worth $1,768,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Collier Financial purchased a new stake in shares of Bank of America during the fourth quarter valued at $25,000. Life Planning Partners Inc lifted its stake in Bank of America by 3,883.2% during the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after buying an additional 545,936 shares in the last quarter. Kennebec Savings Bank acquired a new position in shares of Bank of America in the third quarter worth about $29,000. Highline Wealth Partners LLC increased its position in shares of 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 acquiring an additional 510 shares in the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Bank of America during the fourth quarter valued at approximately $42,000. 70.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on BAC shares. Truist Financial raised their price objective on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and increased their price target for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Evercore ISI cut their target price on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Performance

NYSE:BAC opened at $43.97 on Wednesday. The firm has a market capitalization of $337.35 billion, a PE ratio of 13.65, a PEG ratio of 1.21 and a beta of 1.33. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 1 year low of $33.53 and a 1 year high of $48.08. The firm’s fifty day simple moving average is $45.71 and its 200 day simple moving average is $43.50.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating 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 company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same period last year, the business posted $0.70 earnings per share. The firm’s revenue was up 15.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.37%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio is currently 32.30%.

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.