Encompass Wealth Advisors LLC Sells 10,052 Shares of Bank of America Co. (NYSE:BAC)

Encompass Wealth Advisors LLC decreased its position in shares of Bank of America Co. (NYSE:BAC) by 66.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,164 shares of the financial services provider’s stock after selling 10,052 shares during the quarter. Encompass Wealth Advisors LLC’s holdings in Bank of America were worth $227,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kennebec Savings Bank bought a new stake in shares of Bank of America during the third quarter worth about $29,000. Highline Wealth Partners LLC boosted its position in Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after buying an additional 510 shares during the period. Retirement Wealth Solutions LLC bought a new stake in Bank of America during the 4th quarter worth approximately $42,000. Christopher J. Hasenberg Inc increased its position in Bank of America by 525.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 852 shares during the period. Finally, Northwest Investment Counselors LLC bought a new position in shares of Bank of America during the third quarter valued at $45,000. Institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. Evercore ISI reduced their price target on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Barclays upped their target price on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Piper Sandler dropped their price target on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Performance

Shares of Bank of America stock opened at $47.74 on Friday. The business’s fifty day simple moving average is $45.78 and its 200 day simple moving average is $42.85. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 12 month low of $32.35 and a 12 month high of $48.08. The firm has a market capitalization of $366.33 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 1.26 and a beta of 1.33.

Bank of America (NYSE:BAC) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. During the same period in the previous year, the business posted $0.70 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, analysts anticipate that Bank of America Co. will post 3.67 EPS for the current year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.18%. Bank of America’s payout ratio is currently 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.