Transamerica Financial Advisors Inc. Sells 364 Shares of Bank of America Co. (NYSE:BAC)

Transamerica Financial Advisors Inc. trimmed its stake in Bank of America Co. (NYSE:BAC) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,927 shares of the financial services provider’s stock after selling 364 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Bank of America were worth $613,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Collier Financial acquired a new stake in Bank of America in the 4th quarter valued at about $25,000. Life Planning Partners Inc raised its holdings in Bank of America by 3,883.2% in the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 545,936 shares during the period. Graney & King LLC acquired a new stake in Bank of America during the fourth quarter worth approximately $25,000. Fairway Wealth LLC bought a new stake in shares of Bank of America during the fourth quarter worth approximately $29,000. Finally, Highline Wealth Partners LLC grew 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 valued at $37,000 after purchasing an additional 510 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analysts Set New Price Targets

BAC has been the subject of several research reports. Morgan Stanley lifted their price target on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Keefe, Bruyette & Woods lifted their target price on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Piper Sandler reduced their target price on shares of 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 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 research report on Friday, January 17th. Finally, UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and increased their target price for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and a consensus target price of $48.45.

Bank of America Stock Performance

Bank of America stock opened at $41.24 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The stock has a market cap of $313.50 billion, a PE ratio of 12.81, a P/E/G ratio of 1.21 and a beta of 1.32. Bank of America Co. has a 12-month low of $34.15 and a 12-month high of $48.08. The business’s 50-day moving average price is $44.45 and its two-hundred day moving average price is $43.89.

Bank of America (NYSE:BAC) last announced 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. The company 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 was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.70 EPS. As a group, analysts expect that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Friday, March 7th. Bank of America’s payout ratio is 32.30%.

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.