Sage Capital Advisors llc Has $498,000 Holdings in Bank of America Co. (NYSE:BAC)

Sage Capital Advisors llc raised its position in shares of Bank of America Co. (NYSE:BAC) by 78.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,331 shares of the financial services provider’s stock after acquiring an additional 4,989 shares during the period. Sage Capital Advisors llc’s holdings in Bank of America were worth $498,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC bought a new position in Bank of America in the 2nd quarter valued at $27,000. Kennebec Savings Bank acquired a new position in Bank of America during the 3rd quarter worth about $29,000. Highline Wealth Partners LLC lifted its position in shares of Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc lifted its holdings in Bank of America by 525.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after buying an additional 852 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in Bank of America in the third quarter worth about $45,000. Institutional investors own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

BAC has been the topic of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 target price on shares of Bank of America in a research note on Wednesday, October 9th. Morgan Stanley lowered Bank of America from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $48.00 to $55.00 in a research report on Monday, December 9th. Oppenheimer lowered their target price on Bank of America from $57.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Piper Sandler lifted their price target on shares of Bank of America from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Evercore ISI lifted their price target on Bank of America from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Insider Buying and Selling

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 8,694,538 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $42.55, for a total transaction of $369,952,591.90. Following the completion of the sale, the insider now directly owns 766,305,462 shares in the company, valued at $32,606,297,408.10. This represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by company insiders.

Bank of America Stock Performance

Shares of NYSE BAC traded down $1.07 during trading hours on Friday, reaching $45.14. 22,095,878 shares of the stock were exchanged, compared to its average volume of 30,240,287. The stock’s fifty day simple moving average is $45.46 and its 200 day simple moving average is $42.15. The firm has a market capitalization of $346.35 billion, a price-to-earnings ratio of 16.41, a P/E/G ratio of 1.55 and a beta of 1.33. Bank of America Co. has a 52 week low of $31.27 and a 52 week high of $48.08. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80.

Bank of America (NYSE:BAC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.25 billion. During the same quarter in the previous year, the business posted $0.90 earnings per share. Bank of America’s quarterly revenue was up .4% on a year-over-year basis. Sell-side analysts predict that Bank of America Co. will post 3.27 EPS for the current year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 6th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend was Friday, December 6th. Bank of America’s dividend payout ratio (DPR) is currently 37.82%.

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.