Bank of America Co. (NYSE:BAC) Shares Sold by Blake Schutter Theil Wealth Advisors LLC

Blake Schutter Theil Wealth Advisors LLC reduced its stake in Bank of America Co. (NYSE:BAC) by 56.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,077 shares of the financial services provider’s stock after selling 18,071 shares during the period. Blake Schutter Theil Wealth Advisors LLC’s holdings in Bank of America were worth $619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Collier Financial bought a new position in Bank of America during the 4th quarter valued at $25,000. Life Planning Partners Inc lifted its holdings in shares of Bank of America by 3,883.2% in the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after buying an additional 545,936 shares during the period. Kennebec Savings Bank acquired a new position in Bank of America during the third quarter worth about $29,000. Highline Wealth Partners LLC grew its holdings in 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 acquiring an additional 510 shares during the period. Finally, Retirement Wealth Solutions LLC bought a new stake in Bank of America in the fourth quarter worth about $42,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Price Performance

NYSE BAC opened at $41.39 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $314.72 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32. Bank of America Co. has a 12-month low of $34.15 and a 12-month high of $48.08. The company has a 50 day moving average price of $45.61 and a two-hundred day moving average price of $43.72.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same period in the prior year, the company posted $0.70 earnings per share. Bank of America’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, equities analysts predict that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s payout ratio is 32.30%.

Wall Street Analysts Forecast Growth

BAC has been the topic of several recent research reports. 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. Keefe, Bruyette & Woods upped their price target on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Oppenheimer raised their price objective on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Evercore ISI cut their target price 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. Finally, Piper Sandler decreased their price target on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.64.

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.