Aljian Capital Management LLC Has $2.22 Million Stake in Bank of America Co. (NYSE:BAC)

Aljian Capital Management LLC cut its stake in shares of Bank of America Co. (NYSE:BAC) by 1.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,584 shares of the financial services provider’s stock after selling 556 shares during the period. Bank of America comprises approximately 0.5% of Aljian Capital Management LLC’s holdings, making the stock its 25th largest position. Aljian Capital Management LLC’s holdings in Bank of America were worth $2,223,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Intelligence Driven Advisers LLC purchased a new position in shares of Bank of America during the 4th quarter valued at $212,000. G&S Capital LLC raised its holdings in shares of Bank of America by 70.4% during the fourth quarter. G&S Capital LLC now owns 60,581 shares of the financial services provider’s stock worth $2,663,000 after acquiring an additional 25,020 shares in the last quarter. Avestar Capital LLC boosted its position in Bank of America by 8.4% during the fourth quarter. Avestar Capital LLC now owns 45,550 shares of the financial services provider’s stock valued at $2,002,000 after purchasing an additional 3,528 shares during the last quarter. Beckerman Institutional LLC grew its stake in Bank of America by 50.2% in the fourth quarter. Beckerman Institutional LLC now owns 11,456 shares of the financial services provider’s stock valued at $503,000 after purchasing an additional 3,830 shares in the last quarter. Finally, Hemington Wealth Management increased its position in Bank of America by 5.5% in the 4th quarter. Hemington Wealth Management now owns 11,685 shares of the financial services provider’s stock worth $513,000 after purchasing an additional 611 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Truist Financial boosted their price target on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Evercore ISI decreased their target price on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, January 7th. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and increased their target price for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods raised their target price on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Stock Down 1.2 %

Shares of BAC opened at $46.21 on Thursday. Bank of America Co. has a 52 week low of $32.35 and a 52 week high of $48.08. The firm has a market capitalization of $354.56 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.29 and a beta of 1.33. The company has a 50-day simple moving average of $45.76 and a 200-day simple moving average of $43.02. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78.

Bank of America (NYSE:BAC) last announced its quarterly earnings data 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. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company earned $0.70 EPS. On average, equities research analysts expect that Bank of America Co. will post 3.69 earnings per share for the current year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.25%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

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.