Bank of America Co. (NYSE:BAC) Holdings Reduced by Woodward Diversified Capital LLC

Woodward Diversified Capital LLC lowered its position in Bank of America Co. (NYSE:BAC) by 30.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,349 shares of the financial services provider’s stock after selling 13,446 shares during the quarter. Bank of America comprises approximately 1.0% of Woodward Diversified Capital LLC’s investment portfolio, making the stock its 20th biggest holding. Woodward Diversified Capital LLC’s holdings in Bank of America were worth $1,334,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BAC. Kennebec Savings Bank acquired a new stake in Bank of America in the 3rd quarter valued at approximately $29,000. Highline Wealth Partners LLC increased its holdings in shares of Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 510 shares during the period. Christopher J. Hasenberg Inc grew its position in Bank of America by 525.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after buying an additional 852 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in Bank of America during the 4th quarter valued at about $42,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Bank of America during the 3rd quarter worth about $45,000. Institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

BAC has been the subject of several recent analyst reports. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and increased their price objective for the company from $46.00 to $54.00 in a report on Friday, November 8th. Phillip Securities raised 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. Piper Sandler decreased their target price on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Truist Financial boosted their price target on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Oppenheimer raised their price objective on shares of Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Performance

Shares of Bank of America stock opened at $47.43 on Friday. The stock has a market cap of $363.89 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.26 and a beta of 1.33. Bank of America Co. has a 12 month low of $32.35 and a 12 month high of $48.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $45.77 and a 200-day simple moving average of $42.88.

Bank of America (NYSE:BAC) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.70 EPS. On average, sell-side analysts anticipate that Bank of America Co. will post 3.67 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a yield of 2.19%. Bank of America’s dividend payout ratio is presently 32.30%.

Bank of America Company 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.