Bank of America Co. (NYSE:BAC) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp lessened its stake in Bank of America Co. (NYSE:BAC) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,208 shares of the financial services provider’s stock after selling 760 shares during the period. Boston Trust Walden Corp’s holdings in Bank of America were worth $1,723,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Financial Life Planners acquired a new position in shares of Bank of America in the fourth quarter valued at approximately $560,000. Wealthspan Partners LLC purchased a new stake in shares of Bank of America in the fourth quarter valued at about $215,000. Fiduciary Planning LLC purchased a new stake in Bank of America in the 4th quarter valued at approximately $448,000. Resonant Capital Advisors LLC grew its holdings in Bank of America by 6.0% during the fourth quarter. Resonant Capital Advisors LLC now owns 18,480 shares of the financial services provider’s stock worth $812,000 after acquiring an additional 1,042 shares during the period. Finally, Lederer & Associates Investment Counsel CA increased its holdings in shares of Bank of America by 1.1% in the 4th quarter. Lederer & Associates Investment Counsel CA now owns 20,000 shares of the financial services provider’s stock valued at $879,000 after purchasing an additional 217 shares in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Trading Up 1.1 %

BAC stock opened at $46.73 on Wednesday. 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 Co. has a twelve month low of $32.35 and a twelve month high of $48.08. The company has a market cap of $358.57 billion, a P/E ratio of 14.51, a PEG ratio of 1.26 and a beta of 1.33. The business has a fifty day moving average of $45.81 and a 200-day moving average of $42.79.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. During the same period last year, the firm posted $0.70 earnings per share. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, equities research analysts expect that Bank of America Co. will post 3.67 EPS for the current year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s payout ratio is 32.30%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Truist Financial lifted their price target on Bank of America from $52.00 to $53.00 and gave the stock 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 report on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Morgan Stanley raised their price target on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Finally, Phillip Securities upgraded Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.58.

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.