Blake Schutter Theil Wealth Advisors LLC Sells 18,071 Shares of Bank of America Co. (NYSE:BAC)

Blake Schutter Theil Wealth Advisors LLC cut its stake in Bank of America Co. (NYSE:BAC - Free Report) by 56.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,077 shares of the financial services provider's stock after selling 18,071 shares during the quarter. Blake Schutter Theil Wealth Advisors LLC's holdings in Bank of America were worth $619,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in Bank of America by 1.2% in the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider's stock worth $5,546,871,000 after purchasing an additional 1,700,141 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Bank of America by 4.9% in the 4th quarter. Bank of New York Mellon Corp now owns 59,613,837 shares of the financial services provider's stock worth $2,620,028,000 after buying an additional 2,806,927 shares during the period. Fisher Asset Management LLC increased its stake in shares of Bank of America by 3.7% in the 4th quarter. Fisher Asset Management LLC now owns 46,887,442 shares of the financial services provider's stock worth $2,060,703,000 after acquiring an additional 1,671,610 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Bank of America by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 42,929,896 shares of the financial services provider's stock worth $1,886,769,000 after acquiring an additional 297,858 shares in the last quarter. Finally, Amundi lifted 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 valued at $1,747,658,000 after acquiring an additional 10,231,001 shares during the period. Institutional investors own 70.71% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BAC. Truist Financial raised their target price on shares of Bank of America from $52.00 to $53.00 and gave the company a "buy" rating in a research note on Friday, January 17th. Hsbc Global Res upgraded Bank of America from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. UBS Group raised Bank of America from a "neutral" rating to a "buy" rating and increased their target price for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. Barclays lifted their price target 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. Finally, Wells Fargo & Company increased their price objective on shares of Bank of America from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $48.64.

Bank of America Stock Performance

BAC stock traded down $0.21 during trading on Tuesday, reaching $39.62. The stock had a trading volume of 50,561,860 shares, compared to its average volume of 36,015,205. The stock's 50 day moving average is $45.44 and its two-hundred day moving average is $43.76. The firm has a market cap of $301.29 billion, a PE ratio of 12.30, a PEG ratio of 1.21 and a beta of 1.32. Bank of America Co. has a 52 week low of $34.15 and a 52 week high of $48.08. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. The firm had revenue of $25.30 billion for the quarter, compared to analysts' expectations of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business's quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.70 EPS. As a group, equities analysts anticipate that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Friday, March 7th. Bank of America's payout ratio is 32.30%.

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.