Centric Wealth Management Has $326,000 Holdings in Bank of America Co. (NYSE:BAC)

Centric Wealth Management decreased its holdings in shares of Bank of America Co. (NYSE:BAC) by 10.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,423 shares of the financial services provider’s stock after selling 897 shares during the quarter. Centric Wealth Management’s holdings in Bank of America were worth $326,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Collier Financial bought a new stake in shares of Bank of America during the 4th quarter worth approximately $25,000. Life Planning Partners Inc increased its holdings in Bank of America by 3,883.2% during the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after buying an additional 545,936 shares during the last quarter. Graney & King LLC bought a new stake in Bank of America during the fourth quarter worth $25,000. Fairway Wealth LLC acquired a new stake in Bank of America in the fourth quarter valued at $29,000. Finally, Highline Wealth Partners LLC grew its position in shares of 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 acquiring an additional 510 shares during the period. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Up 1.3 %

Shares of NYSE:BAC opened at $41.80 on Tuesday. The business’s 50 day simple moving average is $44.35 and its 200 day simple moving average is $43.95. Bank of America Co. has a 1 year low of $34.15 and a 1 year high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $317.80 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.21 and a beta of 1.32.

Bank of America (NYSE:BAC) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion for the quarter, compared to analyst estimates 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 firm posted $0.70 EPS. On average, research analysts anticipate that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Friday, March 7th. Bank of America’s payout ratio is presently 32.30%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays raised 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 note on Monday, January 6th. Truist Financial lifted their target price 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. Morgan Stanley boosted their target price on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Finally, Baird R W upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.45.

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.