Bank of America Co. (NYSE:BAC) Shares Sold by Round Hill Asset Management

Round Hill Asset Management decreased its stake in Bank of America Co. (NYSE:BAC) by 15.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,265 shares of the financial services provider’s stock after selling 1,728 shares during the quarter. Round Hill Asset Management’s holdings in Bank of America were worth $407,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Graney & King LLC acquired a new stake in Bank of America in the 4th quarter worth about $25,000. Collier Financial purchased a new position in shares of Bank of America in the fourth quarter valued at approximately $25,000. Fairway Wealth LLC acquired a new stake in shares of Bank of America in the fourth quarter worth approximately $29,000. Highline Wealth Partners LLC increased its position in shares of Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 510 shares in the last quarter. Finally, Mascoma Wealth Management LLC raised its stake in 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 purchasing an additional 361 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

NYSE:BAC opened at $34.37 on Monday. The stock has a market capitalization of $261.32 billion, a P/E ratio of 10.67, a PEG 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 fifty-two week low of $32.70 and a fifty-two week high of $48.08. The company has a 50 day moving average price of $43.74 and a 200 day moving average price of $43.94.

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

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 3.03%. Bank of America’s dividend payout ratio is presently 32.30%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BAC shares. Citigroup lowered their target price on shares of 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. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. Piper Sandler cut their price objective on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Robert W. Baird upgraded Bank of America from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $45.00 to $50.00 in a report on Friday, March 7th. Finally, Oppenheimer increased their price target on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.31.

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.