Wulff Hansen & CO. Sells 800 Shares of Bank of America Co. (NYSE:BAC)

Wulff Hansen & CO. reduced its stake in shares of Bank of America Co. (NYSE:BAC) by 1.7% in the 4th quarter, Holdings Channel reports. The firm owned 47,598 shares of the financial services provider’s stock after selling 800 shares during the quarter. Bank of America accounts for 1.9% of Wulff Hansen & CO.’s investment portfolio, making the stock its 11th largest holding. Wulff Hansen & CO.’s holdings in Bank of America were worth $2,092,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BAC. Amundi raised its position in Bank of America by 37.1% during the 4th quarter. Amundi now owns 37,819,980 shares of the financial services provider’s stock worth $1,747,658,000 after purchasing an additional 10,231,001 shares during the last quarter. Two Sigma Advisers LP raised its position in Bank of America by 31,021.6% during the 3rd quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider’s stock worth $405,049,000 after purchasing an additional 10,175,100 shares during the last quarter. Swedbank AB raised its position in Bank of America by 81.4% during the 4th quarter. Swedbank AB now owns 12,776,184 shares of the financial services provider’s stock worth $561,513,000 after purchasing an additional 5,733,810 shares during the last quarter. KBC Group NV raised its position in Bank of America by 130.9% during the 4th quarter. KBC Group NV now owns 9,692,279 shares of the financial services provider’s stock worth $425,976,000 after purchasing an additional 5,493,817 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Bank of America by 193.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider’s stock worth $301,898,000 after purchasing an additional 5,015,378 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Bank of America Price Performance

BAC stock opened at $41.61 on Wednesday. The company has a market capitalization of $316.37 billion, a P/E ratio of 12.92, 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. Bank of America Co. has a 52-week low of $34.15 and a 52-week high of $48.08. The business has a 50-day simple moving average of $45.02 and a two-hundred day simple moving average of $43.78.

Bank of America (NYSE:BAC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $25.12 billion. During the same quarter last year, the firm earned $0.70 EPS. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. Research analysts expect that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.50%. Bank of America’s dividend payout ratio is currently 32.30%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BAC. Morgan Stanley raised their target price on 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. Barclays lifted their price objective on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Piper Sandler lowered their price objective on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Baird R W raised Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. Finally, Robert W. Baird raised Bank of America from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $45.00 to $50.00 in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Bank of America 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.