OneAscent Wealth Management LLC Sells 458 Shares of Bank of America Co. (NYSE:BAC)

OneAscent Wealth Management LLC reduced its stake in Bank of America Co. (NYSE:BAC) by 2.3% during the 1st quarter, HoldingsChannel reports. The fund owned 19,793 shares of the financial services provider’s stock after selling 458 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Bank of America were worth $755,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Fortis Group Advisors LLC bought a new stake in Bank of America in the 3rd quarter valued at approximately $25,000. Livelsberger Financial Advisory bought a new stake in Bank of America during the 4th quarter worth about $28,000. Criterion Capital Advisors LLC acquired a new position in shares of Bank of America during the 4th quarter worth about $32,000. Northwest Investment Counselors LLC bought a new stake in Bank of America during the first quarter worth about $33,000. Finally, Mark Sheptoff Financial Planning LLC grew its position in shares of Bank of America by 431.0% in the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 1,062 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 862 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Trading Up 1.3 %

NYSE BAC traded up $0.52 on Friday, hitting $39.77. The company’s stock had a trading volume of 52,028,200 shares, compared to its average volume of 35,164,596. The firm has a market cap of $311.02 billion, a PE ratio of 13.76, a PEG ratio of 1.50 and a beta of 1.36. The company’s 50-day moving average is $38.91 and its 200 day moving average is $36.06. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. Bank of America Co. has a 1-year low of $24.96 and a 1-year high of $40.34.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.06. The firm had revenue of $25.82 billion during the quarter, compared to analyst estimates of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.94 EPS. As a group, analysts predict that Bank of America Co. will post 3.22 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.96 annualized dividend and a dividend yield of 2.41%. Bank of America’s dividend payout ratio is currently 33.22%.

Wall Street Analyst Weigh In

BAC has been the topic of a number of recent research reports. UBS Group restated a “neutral” rating and set a $40.00 price objective (up previously from $39.00) on shares of Bank of America in a research note on Thursday, April 4th. Erste Group Bank raised shares of Bank of America from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Wells Fargo & Company upped their target price on Bank of America from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, March 28th. Citigroup lifted their price target on Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Finally, Keefe, Bruyette & Woods upgraded Bank of America from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $37.00 to $46.00 in a research report on Friday, June 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Bank of America has an average rating of “Hold” and a consensus price target of $39.79.

About Bank of America

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.