Douglass Winthrop Advisors LLC Sells 966 Shares of Bank of America Co. (NYSE:BAC)

Douglass Winthrop Advisors LLC trimmed its stake in shares of Bank of America Co. (NYSE:BAC) by 13.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,150 shares of the financial services provider’s stock after selling 966 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Bank of America were worth $270,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BAC. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Bank of America by 4.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,940,121 shares of the financial services provider’s stock valued at $173,168,000 after buying an additional 173,021 shares during the period. OFI Invest Asset Management bought a new position in Bank of America in the fourth quarter valued at about $60,679,000. Arizona State Retirement System boosted its position in Bank of America by 0.5% in the fourth quarter. Arizona State Retirement System now owns 2,028,439 shares of the financial services provider’s stock worth $89,150,000 after purchasing an additional 10,377 shares during the last quarter. Keybank National Association OH grew its stake in shares of Bank of America by 1.1% during the 4th quarter. Keybank National Association OH now owns 3,458,616 shares of the financial services provider’s stock valued at $152,006,000 after purchasing an additional 38,258 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Bank of America by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 42,929,896 shares of the financial services provider’s stock valued at $1,886,769,000 after purchasing an additional 297,858 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Down 0.0 %

Shares of BAC opened at $42.47 on Friday. Bank of America Co. has a fifty-two week low of $34.15 and a fifty-two week high of $48.08. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The company’s fifty day moving average is $44.81 and its 200 day moving average is $43.77. The stock has a market capitalization of $322.88 billion, a PE ratio of 13.19, a P/E/G ratio of 1.21 and a beta of 1.32.

Bank of America (NYSE:BAC) last announced its quarterly earnings results 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. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter last year, the firm earned $0.70 EPS. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. Sell-side analysts expect 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 declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, March 7th. This represents a $1.04 annualized dividend and a yield of 2.45%. Bank of America’s payout ratio is presently 32.30%.

Wall Street Analyst Weigh In

BAC has been the subject of several recent research reports. Barclays boosted their target price 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. Truist Financial upped their price objective on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods upped 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, Robert W. Baird raised Bank of America from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $45.00 to $50.00 in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.64.

Bank of America 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.