Bank of America Co. (NYSE:BAC) Shares Sold by Visionary Horizons LLC

Visionary Horizons LLC lowered its position in shares of Bank of America Co. (NYSE:BAC) by 5.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,632 shares of the financial services provider’s stock after selling 441 shares during the period. Visionary Horizons LLC’s holdings in Bank of America were worth $335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kennebec Savings Bank acquired a new stake in shares of Bank of America during the 3rd quarter worth approximately $29,000. Highline Wealth Partners LLC increased its holdings in shares of 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 last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Bank of America during the 4th quarter worth approximately $42,000. Northwest Investment Counselors LLC purchased a new position in shares of Bank of America during the 3rd quarter worth approximately $45,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Bank of America during the 4th quarter worth approximately $70,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

Bank of America stock opened at $47.43 on Friday. The stock has a market cap of $363.89 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 1.29 and a beta of 1.33. The company has a fifty day simple moving average of $45.77 and a 200-day simple moving average of $42.92. Bank of America Co. has a 12-month low of $32.35 and a 12-month high of $48.08. 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 (NYSE:BAC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $25.12 billion. During the same period last year, the business earned $0.70 EPS. Bank of America’s revenue for the quarter was up 15.0% compared to the same quarter last year. Equities analysts expect that Bank of America Co. will post 3.69 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.19%. Bank of America’s dividend payout ratio is presently 32.30%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BAC. Truist Financial increased their price objective on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective for the company in a research report on Friday, October 18th. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company increased their price objective on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.58.

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.