Bank of America Co. (NYSE:BAC) Shares Sold by Achmea Investment Management B.V.

Achmea Investment Management B.V. trimmed its position in Bank of America Co. (NYSE:BAC) by 4.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 418,549 shares of the financial services provider’s stock after selling 20,516 shares during the quarter. Achmea Investment Management B.V.’s holdings in Bank of America were worth $18,396,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Collier Financial purchased a new position in shares of Bank of America in the 4th quarter valued at $25,000. Fairway Wealth LLC purchased a new position in shares of Bank of America in the 4th quarter valued at $29,000. Highline Wealth Partners LLC grew its position in shares of Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after buying an additional 510 shares during the last quarter. Mascoma Wealth Management LLC grew its position in shares of Bank of America by 68.2% in the 4th quarter. Mascoma Wealth Management LLC now owns 890 shares of the financial services provider’s stock valued at $39,000 after buying an additional 361 shares during the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Bank of America in the 4th quarter valued at $42,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Stock Up 0.7 %

BAC stock opened at $39.90 on Thursday. Bank of America Co. has a one year low of $34.15 and a one year high of $48.08. The stock has a market capitalization of $303.40 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32. 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 company has a fifty day moving average of $45.36 and a 200-day moving average of $43.73.

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, beating the consensus estimate of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same quarter last year, the business earned $0.70 earnings per share. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, analysts expect that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is 32.30%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BAC shares. Barclays increased their target price on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Piper Sandler dropped their target price on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Morgan Stanley raised their price objective on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Finally, Evercore ISI lowered their price objective on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.64.

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.