Interchange Capital Partners LLC Has $701,000 Holdings in Bank of America Co. (NYSE:BAC)

Interchange Capital Partners LLC lessened its holdings in shares of Bank of America Co. (NYSE:BAC) by 4.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 15,958 shares of the financial services provider’s stock after selling 756 shares during the quarter. Interchange Capital Partners LLC’s holdings in Bank of America were worth $701,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of BAC. Swedbank AB boosted its holdings in shares of Bank of America by 0.7% during the third quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider’s stock worth $279,441,000 after acquiring an additional 50,849 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Bank of America by 3.8% during the third quarter. Principal Financial Group Inc. now owns 15,415,630 shares of the financial services provider’s stock worth $611,692,000 after acquiring an additional 569,385 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of Bank of America during the third quarter worth approximately $2,024,000. Meridian Wealth Management LLC bought a new stake in shares of Bank of America during the third quarter worth approximately $1,164,000. Finally, Kingsview Wealth Management LLC boosted its holdings in shares of Bank of America by 10.8% during the third quarter. Kingsview Wealth Management LLC now owns 112,261 shares of the financial services provider’s stock worth $4,455,000 after acquiring an additional 10,904 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

BAC has been the subject of a number of research analyst reports. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. Baird R W upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. Piper Sandler cut their price target on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Oppenheimer boosted their price target on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.64.

Bank of America Stock Down 0.0 %

Shares of NYSE:BAC opened at $42.47 on Monday. The company has a fifty day moving average of $44.81 and a 200-day moving average of $43.81. The company has a market capitalization of $322.88 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32. 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 Co. has a 52-week low of $34.15 and a 52-week high of $48.08.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The business 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%. Bank of America’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 earnings per share. On average, equities analysts predict that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.26 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.45%. 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.