Bank of America Co. (NYSE:BAC) Shares Sold by Ossiam

Ossiam trimmed its position in shares of Bank of America Co. (NYSE:BAC - Free Report) by 53.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 471,788 shares of the financial services provider's stock after selling 547,045 shares during the quarter. Ossiam's holdings in Bank of America were worth $20,735,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Graney & King LLC bought a new position in shares of Bank of America in the fourth quarter worth about $25,000. Collier Financial purchased a new stake in Bank of America in the 4th quarter valued at about $25,000. Fairway Wealth LLC bought a new position in Bank of America in the fourth quarter worth approximately $29,000. Glass Jacobson Investment Advisors llc lifted its stake in Bank of America by 53.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider's stock worth $35,000 after acquiring an additional 276 shares during the period. Finally, Highline Wealth Partners LLC lifted its position in shares of Bank of America by 152.7% in 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. Hedge funds and other institutional investors own 70.71% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BAC. Barclays cut their target price on Bank of America from $58.00 to $54.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Hsbc Global Res upgraded shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. Piper Sandler lowered their target price on shares of Bank of America from $45.00 to $42.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. decreased their price objective on Bank of America from $49.50 to $43.50 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Finally, Morgan Stanley boosted their target price on Bank of America from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Bank of America has a consensus rating of "Moderate Buy" and a consensus price target of $47.43.

Bank of America Stock Performance

Shares of NYSE:BAC traded up $0.79 during trading on Wednesday, hitting $39.11. 34,780,532 shares of the stock traded hands, compared to its average volume of 39,023,187. The company has a fifty day moving average price of $40.93 and a two-hundred day moving average price of $43.59. Bank of America Co. has a 52-week low of $33.07 and a 52-week high of $48.08. The company has a market cap of $297.35 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 1.21 and a beta of 1.24. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $27.37 billion for the quarter, compared to analyst estimates of $26.83 billion. As a group, equities analysts predict that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend was Friday, March 7th. Bank of America's payout ratio is 30.95%.

About Bank of America

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.