Copperwynd Financial LLC Sells 267 Shares of Bank of America Co. (NYSE:BAC)

Copperwynd Financial LLC trimmed its position in Bank of America Co. (NYSE:BAC) by 1.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 19,895 shares of the financial services provider’s stock after selling 267 shares during the quarter. Copperwynd Financial LLC’s holdings in Bank of America were worth $874,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Collier Financial bought a new position in Bank of America in the 4th quarter valued at $25,000. Fairway Wealth LLC bought a new position in Bank of America in the 4th quarter valued at $29,000. Highline Wealth Partners LLC boosted its position in Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after buying an additional 510 shares during the last quarter. Mascoma Wealth Management LLC boosted its position in shares of Bank of America by 68.2% in the 4th quarter. Mascoma Wealth Management LLC now owns 890 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 361 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Bank of America in the 4th quarter worth $42,000. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BAC has been the topic of several recent research reports. Truist Financial raised their price target on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Wells Fargo & Company raised their price target on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price target on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $48.64.

Bank of America Price Performance

Shares of NYSE BAC opened at $40.97 on Friday. The stock has a market capitalization of $311.45 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.21 and a beta of 1.32. The business has a 50-day moving average of $45.19 and a 200-day moving average of $43.71. 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 $34.15 and a fifty-two week high of $48.08.

Bank of America (NYSE:BAC) last announced its quarterly earnings data 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 during 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%. Bank of America’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS. As a group, sell-side analysts predict that Bank of America Co. will post 3.7 earnings per share 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. 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 2.54%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s payout ratio is 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.