Compton Wealth Advisory Group LLC Sells 2,063 Shares of Bank of America Co. (NYSE:BAC)

Compton Wealth Advisory Group LLC decreased its holdings in shares of Bank of America Co. (NYSE:BAC) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,403 shares of the financial services provider’s stock after selling 2,063 shares during the quarter. Compton Wealth Advisory Group LLC’s holdings in Bank of America were worth $2,743,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BAC. Fairway Wealth LLC acquired a new stake in shares of Bank of America in the second quarter worth $27,000. Kennebec Savings Bank bought a new stake in Bank of America in the 3rd quarter valued at $29,000. Highline Wealth Partners LLC grew its position in 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 worth $37,000 after purchasing an additional 510 shares during the last quarter. Christopher J. Hasenberg Inc increased its holdings in shares of 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 purchasing an additional 852 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Bank of America during the third quarter valued at about $45,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Down 0.4 %

Shares of BAC stock traded down $0.20 on Monday, hitting $44.91. 9,425,293 shares of the stock were exchanged, compared to its average volume of 30,063,879. Bank of America Co. has a fifty-two week low of $31.27 and a fifty-two week high of $48.08. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average of $45.53 and a 200 day moving average of $42.22. The firm has a market capitalization of $344.59 billion, a P/E ratio of 16.33, a price-to-earnings-growth ratio of 1.55 and a beta of 1.33.

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

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 6th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Friday, December 6th. Bank of America’s payout ratio is presently 37.82%.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of research reports. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Keefe, Bruyette & Woods raised their target price 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. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Truist Financial assumed coverage on shares of Bank of America in a report on Tuesday, January 7th. They set a “buy” rating and a $52.00 price objective for the company. Finally, Piper Sandler upped their target price 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

Insider Activity at Bank of America

In other news, major shareholder Berkshire Hathaway Inc sold 8,694,538 shares of Bank of America 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 owns 766,305,462 shares of the company’s stock, valued at approximately $32,606,297,408.10. This trade represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by company insiders.

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.