First Heartland Consultants Inc. Sells 314 Shares of Bank of America Co. (NYSE:BAC)

First Heartland Consultants Inc. trimmed its position in shares of Bank of America Co. (NYSE:BAC) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,584 shares of the financial services provider’s stock after selling 314 shares during the quarter. First Heartland Consultants Inc.’s holdings in Bank of America were worth $641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Collier Financial purchased a new position in Bank of America in the fourth quarter worth about $25,000. Life Planning Partners Inc boosted its holdings in shares of Bank of America by 3,883.2% in the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after buying an additional 545,936 shares during the last quarter. Graney & King LLC purchased a new position in shares of Bank of America in the fourth quarter worth approximately $25,000. Fairway Wealth LLC bought a new stake in Bank of America during the fourth quarter valued at approximately $29,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Bank of America during the fourth quarter valued at approximately $31,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Stock Performance

Shares of NYSE BAC opened at $43.21 on Thursday. The company has a market cap of $325.43 billion, a P/E ratio of 13.42, a P/E/G ratio of 1.21 and a beta of 1.27. Bank of America Co. has a 52-week low of $33.07 and a 52-week high of $48.08. 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’s fifty day moving average is $40.27 and its two-hundred day moving average is $43.59.

Bank of America (NYSE:BAC) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm had revenue of $27.37 billion for the quarter, compared to analysts’ expectations of $26.83 billion. As a group, analysts anticipate that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, June 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.41%. Bank of America’s dividend payout ratio (DPR) is 30.95%.

Analyst Ratings Changes

BAC has been the subject of a number of recent research reports. TD Cowen initiated coverage on shares of Bank of America in a research report on Thursday, May 15th. They set a “buy” rating and a $53.00 price objective for the company. Truist Financial cut their price target on Bank of America from $50.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Citigroup decreased their price objective on Bank of America from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. Cowen assumed coverage on Bank of America in a research report on Wednesday, May 14th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. reduced their target price on shares of Bank of America from $49.50 to $43.50 and set an “overweight” rating for the company in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $47.50.

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.