FSM Wealth Advisors LLC Has $263,000 Stake in Bank of America Co. (NYSE:BAC)

FSM Wealth Advisors LLC cut its position in Bank of America Co. (NYSE:BAC) by 20.4% during the 4th quarter, HoldingsChannel reports. The firm owned 5,632 shares of the financial services provider’s stock after selling 1,445 shares during the quarter. FSM Wealth Advisors LLC’s holdings in Bank of America were worth $263,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BAC. KPP Advisory Services LLC grew its position in shares of Bank of America by 1.5% in the 4th quarter. KPP Advisory Services LLC now owns 29,879 shares of the financial services provider’s stock valued at $1,313,000 after acquiring an additional 450 shares during the period. Sunesis Advisors LLC grew its position in shares of Bank of America by 3.2% in the 4th quarter. Sunesis Advisors LLC now owns 45,082 shares of the financial services provider’s stock valued at $1,981,000 after acquiring an additional 1,394 shares during the period. CENTRAL TRUST Co grew its position in shares of Bank of America by 3.2% in the 4th quarter. CENTRAL TRUST Co now owns 227,600 shares of the financial services provider’s stock valued at $10,003,000 after acquiring an additional 7,120 shares during the period. McAdam LLC grew its position in shares of Bank of America by 19.2% in the 4th quarter. McAdam LLC now owns 14,112 shares of the financial services provider’s stock valued at $620,000 after acquiring an additional 2,276 shares during the period. Finally, Sutton Place Investors LLC grew its position in shares of Bank of America by 6.5% in the 4th quarter. Sutton Place Investors LLC now owns 7,662 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 471 shares during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Piper Sandler reduced their target price on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Keefe, Bruyette & Woods upped their price objective on shares of Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 target price on shares of Bank of America in a research note on Wednesday, October 9th. Finally, Truist Financial raised their price objective on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Bank of America has an average rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Stock Down 1.0 %

Bank of America stock opened at $46.25 on Monday. The firm has a fifty day moving average price of $45.83 and a two-hundred day moving average price of $42.78. The firm has a market cap of $354.84 billion, a price-to-earnings ratio of 14.36, a P/E/G ratio of 1.26 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. Bank of America Co. has a fifty-two week low of $32.35 and a fifty-two week high of $48.08.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate 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 business had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. During the same period in the prior year, the firm earned $0.70 earnings per share. Bank of America’s revenue was up 15.0% compared to the same quarter last year. As a group, analysts forecast that Bank of America Co. will post 3.67 earnings per share for the current year.

Bank of America Announces Dividend

The company also recently disclosed 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. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) 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.