Laird Norton Wetherby Wealth Management LLC Sells 10,528 Shares of Bank of America Co. (NYSE:BAC)

Laird Norton Wetherby Wealth Management LLC reduced its position in shares of Bank of America Co. (NYSE:BAC) by 5.5% in the 4th quarter, HoldingsChannel reports. The firm owned 181,622 shares of the financial services provider’s stock after selling 10,528 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in Bank of America were worth $7,982,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BAC. Regent Peak Wealth Advisors LLC lifted its holdings in Bank of America by 10.3% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 11,971 shares of the financial services provider’s stock valued at $526,000 after purchasing an additional 1,116 shares during the last quarter. Czech National Bank raised its stake in shares of Bank of America by 5.2% in the fourth quarter. Czech National Bank now owns 1,447,360 shares of the financial services provider’s stock worth $63,611,000 after acquiring an additional 72,144 shares during the last quarter. Eastover Investment Advisors LLC bought a new position in shares of Bank of America in the fourth quarter worth about $230,000. Aprio Wealth Management LLC raised its stake in shares of Bank of America by 6.1% in the fourth quarter. Aprio Wealth Management LLC now owns 30,563 shares of the financial services provider’s stock worth $1,343,000 after acquiring an additional 1,752 shares during the last quarter. Finally, EWG Elevate Inc. bought a new position in shares of Bank of America in the fourth quarter worth about $207,000. 70.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BAC. Evercore ISI dropped their target price on shares of Bank of America from $51.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. Baird R W raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. Truist Financial dropped their target price on shares of Bank of America from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Cfra Research boosted their target price on shares of Bank of America to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, April 16th. Finally, Phillip Securities raised shares of Bank of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.25.

Bank of America Stock Up 0.6%

Shares of NYSE:BAC opened at $41.85 on Monday. The stock has a market cap of $315.21 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 1.21 and a beta of 1.27. The company has a 50 day moving average of $39.69 and a 200-day moving average of $43.49. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. Bank of America Co. has a one year low of $33.07 and a one year high of $48.08.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. The firm had revenue of $27.37 billion during the quarter, compared to analysts’ expectations of $26.83 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. On average, sell-side analysts forecast that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America’s dividend payout ratio is currently 30.95%.

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.