Bank of America Co. (NYSE:BAC) Shares Sold by Calton & Associates Inc.

Calton & Associates Inc. lowered its position in shares of Bank of America Co. (NYSE:BAC) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 17,740 shares of the financial services provider’s stock after selling 241 shares during the quarter. Calton & Associates Inc.’s holdings in Bank of America were worth $780,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in BAC. Kennebec Savings Bank acquired a new position in Bank of America in the 3rd quarter worth approximately $29,000. Highline Wealth Partners LLC increased its stake in shares of Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 510 shares during the period. Christopher J. Hasenberg Inc raised its holdings in shares of Bank of America by 525.9% during the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 852 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Bank of America during the fourth quarter valued at $42,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Bank of America in the third quarter valued at $45,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

Bank of America stock opened at $46.68 on Friday. The company has a fifty day simple moving average of $45.85 and a 200-day simple moving average of $42.73. 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 firm has a market capitalization of $358.19 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.27 and a beta of 1.33. Bank of America Co. has a 52-week low of $32.35 and a 52-week high of $48.08.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating 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 net margin of 14.10% and a return on equity of 10.29%. Bank of America’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.70 EPS. On average, equities 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 dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is currently 32.30%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Truist Financial boosted their price objective on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, January 17th. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, January 7th. Barclays raised their price target on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price objective on shares of Bank of America in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and an average target price of $48.58.

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.