Bank of America Co. (NYSE:BAC) Shares Sold by Smith & Howard Wealth Management LLC

Smith & Howard Wealth Management LLC trimmed its holdings in shares of Bank of America Co. (NYSE:BAC - Free Report) by 59.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,961 shares of the financial services provider's stock after selling 11,688 shares during the quarter. Smith & Howard Wealth Management LLC's holdings in Bank of America were worth $350,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in BAC. Collier Financial purchased a new stake in Bank of America in the 4th quarter valued at $25,000. Life Planning Partners Inc grew its holdings in Bank of America by 3,883.2% in the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider's stock valued at $25,000 after buying an additional 545,936 shares in the last quarter. Kennebec Savings Bank purchased a new stake in Bank of America in the 3rd quarter valued at $29,000. Highline Wealth Partners LLC grew its holdings in shares of Bank of America by 152.7% during the 4th 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 during the period. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Bank of America during the 4th quarter worth $42,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of research analyst reports. Piper Sandler lowered their price target 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. Wells Fargo & Company increased their price target on Bank of America from $52.00 to $56.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Hsbc Global Res upgraded Bank of America from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th. Truist Financial increased their price target on Bank of America from $52.00 to $53.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Finally, HSBC raised Bank of America from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a research note on Tuesday, January 7th. One equities 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 given a strong buy rating to the stock. According to data from MarketBeat, Bank of America has a consensus rating of "Moderate Buy" and an average price target of $48.64.

Remove Ads

Bank of America Stock Down 0.5 %

Shares of NYSE BAC traded down $0.21 during midday trading on Tuesday, hitting $39.62. 50,561,860 shares of the company's stock were exchanged, compared to its average volume of 36,019,015. 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 twelve month low of $34.15 and a twelve month high of $48.08. The company has a market cap of $301.29 billion, a PE ratio of 12.30, a P/E/G ratio of 1.21 and a beta of 1.32. The firm's fifty day simple moving average is $45.44 and its 200-day simple moving average is $43.76.

Bank of America (NYSE:BAC - Get Free Report) last issued its earnings results 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. 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 for the quarter, compared to analyst estimates of $25.12 billion. During the same quarter last year, the company earned $0.70 EPS. The business's quarterly revenue was up 15.0% on a year-over-year basis. Research analysts predict that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

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