Courier Capital LLC Sells 1,086 Shares of Bank of America Co. (NYSE:BAC)

Courier Capital LLC trimmed its holdings in Bank of America Co. (NYSE:BAC) by 0.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,886 shares of the financial services provider’s stock after selling 1,086 shares during the period. Courier Capital LLC’s holdings in Bank of America were worth $5,380,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fortis Group Advisors LLC purchased a new stake in Bank of America during the 3rd quarter worth about $25,000. Livelsberger Financial Advisory purchased a new position in Bank of America during the 4th quarter valued at about $28,000. Criterion Capital Advisors LLC purchased a new position in Bank of America during the 4th quarter valued at about $32,000. Northwest Investment Counselors LLC purchased a new position in Bank of America during the 1st quarter valued at about $33,000. Finally, Mark Sheptoff Financial Planning LLC grew its holdings in Bank of America by 431.0% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 1,062 shares of the financial services provider’s stock valued at $36,000 after buying an additional 862 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

NYSE:BAC traded up $0.52 during mid-day trading on Friday, reaching $39.77. The stock had a trading volume of 50,587,133 shares, compared to its average volume of 38,955,422. The firm has a 50 day moving average price of $38.78 and a two-hundred day moving average price of $35.97. The stock has a market capitalization of $311.02 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.49 and a beta of 1.36. Bank of America Co. has a one year low of $24.96 and a one year high of $40.34. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.06. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The firm had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $25.49 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. The business’s revenue was down 1.7% on a year-over-year basis. As a group, analysts expect that Bank of America Co. will post 3.22 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, June 7th. This represents a $0.96 annualized dividend and a dividend yield of 2.41%. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BAC. UBS Group reaffirmed a “neutral” rating and set a $40.00 target price (up previously from $39.00) on shares of Bank of America in a report on Thursday, April 4th. Piper Sandler lifted their target price on Bank of America from $35.00 to $37.00 and gave the company an “underweight” rating in a report on Tuesday, June 4th. Wolfe Research raised Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a report on Friday, April 19th. HSBC reissued a “hold” rating and set a $39.00 price objective (up previously from $38.00) on shares of Bank of America in a report on Thursday, March 28th. Finally, Evercore ISI boosted their price objective on Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Bank of America has an average rating of “Hold” and a consensus target price of $39.79.

About Bank of America

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.