Bank of America Co. (NYSE:BAC) Holdings Trimmed by Ingalls & Snyder LLC

Ingalls & Snyder LLC lowered its position in shares of Bank of America Co. (NYSE:BAC) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 238,026 shares of the financial services provider’s stock after selling 3,782 shares during the quarter. Ingalls & Snyder LLC’s holdings in Bank of America were worth $10,461,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Consolidated Planning Corp boosted its stake in Bank of America by 2.9% during the fourth quarter. Consolidated Planning Corp now owns 8,092 shares of the financial services provider’s stock valued at $356,000 after buying an additional 226 shares in the last quarter. Raab & Moskowitz Asset Management LLC boosted its stake in Bank of America by 11.1% during the fourth quarter. Raab & Moskowitz Asset Management LLC now owns 86,700 shares of the financial services provider’s stock valued at $3,810,000 after buying an additional 8,633 shares in the last quarter. MFG Wealth Management Inc. bought a new position in Bank of America during the fourth quarter valued at about $1,741,000. Three Bridge Wealth Advisors LLC boosted its stake in Bank of America by 35.2% during the fourth quarter. Three Bridge Wealth Advisors LLC now owns 7,300 shares of the financial services provider’s stock valued at $321,000 after buying an additional 1,900 shares in the last quarter. Finally, Clarity Capital Partners LLC boosted its stake in Bank of America by 16.2% during the fourth quarter. Clarity Capital Partners LLC now owns 8,695 shares of the financial services provider’s stock valued at $382,000 after buying an additional 1,209 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of NYSE BAC opened at $46.21 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $354.56 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 1.29 and a beta of 1.33. The business’s 50-day simple moving average is $45.77 and its 200-day simple moving average is $43.00. Bank of America Co. has a 52 week low of $32.35 and a 52 week high of $48.08.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating 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 return on equity of 10.29% and a net margin of 14.10%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 EPS. As a group, equities research analysts expect that Bank of America Co. will post 3.69 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BAC. Phillip Securities raised Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price for the company in a report on Friday, October 18th. StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Truist Financial upped their target price on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, January 17th. Wells Fargo & Company upped their target price on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and upped their target price for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. One 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 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.