Bouchey Financial Group Ltd Trims Stake in Bank of America Co. (NYSE:BAC)

Bouchey Financial Group Ltd lowered its stake in Bank of America Co. (NYSE:BAC) by 3.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,136 shares of the financial services provider’s stock after selling 890 shares during the quarter. Bouchey Financial Group Ltd’s holdings in Bank of America were worth $1,237,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Swedbank AB lifted its stake in shares of Bank of America by 0.7% during the 3rd quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider’s stock worth $279,441,000 after purchasing an additional 50,849 shares during the period. JFS Wealth Advisors LLC lifted its stake in shares of Bank of America by 202.1% during the 3rd quarter. JFS Wealth Advisors LLC now owns 18,531 shares of the financial services provider’s stock worth $735,000 after purchasing an additional 12,396 shares during the period. Cornerstone Wealth Group LLC lifted its stake in shares of Bank of America by 0.3% during the 3rd quarter. Cornerstone Wealth Group LLC now owns 346,634 shares of the financial services provider’s stock worth $13,754,000 after purchasing an additional 1,058 shares during the period. Goldstone Financial Group LLC purchased a new position in shares of Bank of America during the 3rd quarter worth $615,000. Finally, Catalyst Financial Partners LLC lifted its stake in shares of Bank of America by 5.5% during the 3rd quarter. Catalyst Financial Partners LLC now owns 29,066 shares of the financial services provider’s stock worth $1,153,000 after purchasing an additional 1,513 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Up 0.5 %

Shares of Bank of America stock opened at $44.17 on Friday. The business has a 50-day moving average of $45.74 and a 200-day moving average of $43.50. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $338.87 billion, a PE ratio of 13.72, a P/E/G ratio of 1.21 and a beta of 1.33. Bank of America Co. has a 1-year low of $34.03 and a 1-year high of $48.08.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the firm earned $0.70 earnings per share. As a group, equities analysts forecast that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.35%. Bank of America’s dividend payout ratio is presently 32.30%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Oppenheimer upped their price objective on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Piper Sandler dropped their price objective on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $54.00 in a report on Friday, November 8th. Finally, HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Bank of America 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.