Simplicity Wealth LLC Decreases Holdings in Bank of America Co. (NYSE:BAC)

Simplicity Wealth LLC decreased its holdings in shares of Bank of America Co. (NYSE:BAC - Free Report) by 78.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,898 shares of the financial services provider's stock after selling 25,143 shares during the period. Simplicity Wealth LLC's holdings in Bank of America were worth $303,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Amundi raised its position in Bank of America by 37.1% during the fourth quarter. Amundi now owns 37,819,980 shares of the financial services provider's stock valued at $1,747,658,000 after purchasing an additional 10,231,001 shares in the last quarter. Two Sigma Advisers LP raised its position in Bank of America by 31,021.6% during the third quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider's stock valued at $405,049,000 after purchasing an additional 10,175,100 shares in the last quarter. Swedbank AB raised its position in Bank of America by 81.4% during the fourth quarter. Swedbank AB now owns 12,776,184 shares of the financial services provider's stock valued at $561,513,000 after purchasing an additional 5,733,810 shares in the last quarter. KBC Group NV raised its position in Bank of America by 130.9% during the fourth quarter. KBC Group NV now owns 9,692,279 shares of the financial services provider's stock valued at $425,976,000 after purchasing an additional 5,493,817 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Bank of America by 193.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider's stock valued at $301,898,000 after purchasing an additional 5,015,378 shares in the last quarter. Institutional investors own 70.71% of the company's stock.

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Bank of America Stock Down 0.5 %

Shares of BAC traded down $0.21 during mid-day trading on Tuesday, reaching $39.62. The company had a trading volume of 50,561,860 shares, compared to its average volume of 36,019,015. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a 50-day moving average price of $45.53 and a 200 day moving average price of $43.76. Bank of America Co. has a 52 week low of $34.15 and a 52 week high of $48.08. The company has a market capitalization of $301.29 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping 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 firm had revenue of $25.30 billion for the quarter, compared to analysts' expectations of $25.12 billion. During the same period in the previous year, the firm posted $0.70 EPS. The business's revenue for the quarter was up 15.0% compared to the same quarter last year. On average, sell-side analysts forecast that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

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

Analyst Ratings Changes

BAC has been the topic of several analyst reports. Hsbc Global Res upgraded Bank of America from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th. Robert W. Baird upgraded 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 report on Friday. Evercore ISI decreased their price objective on Bank of America from $53.00 to $51.00 and set an "outperform" rating on the stock in a report on Friday, January 17th. Wells Fargo & Company lifted their price objective on Bank of America from $52.00 to $56.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Finally, Morgan Stanley lifted their price objective on Bank of America from $54.00 to $56.00 and gave the stock an "equal weight" rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $48.64.

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.