HMS Capital Management LLC Sells 339 Shares of Bank of America Co. (NYSE:BAC)

HMS Capital Management LLC lessened its stake in shares of Bank of America Co. (NYSE:BAC) by 5.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,105 shares of the financial services provider’s stock after selling 339 shares during the period. HMS Capital Management LLC’s holdings in Bank of America were worth $268,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Park Capital Management LLC WI acquired a new position in Bank of America during the fourth quarter worth approximately $502,000. Consolidated Planning Corp increased its position in Bank of America by 2.9% during the fourth quarter. Consolidated Planning Corp now owns 8,092 shares of the financial services provider’s stock worth $356,000 after buying an additional 226 shares during the last quarter. Raab & Moskowitz Asset Management LLC increased its position in Bank of America by 11.1% during the fourth quarter. Raab & Moskowitz Asset Management LLC now owns 86,700 shares of the financial services provider’s stock worth $3,810,000 after buying an additional 8,633 shares during the last quarter. MFG Wealth Management Inc. acquired a new position in Bank of America during the fourth quarter worth approximately $1,741,000. Finally, Three Bridge Wealth Advisors LLC increased its position in Bank of America by 35.2% during the fourth quarter. Three Bridge Wealth Advisors LLC now owns 7,300 shares of the financial services provider’s stock worth $321,000 after buying an additional 1,900 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BAC. Oppenheimer boosted their price target on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and upped their target price for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. Evercore ISI decreased 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. Piper Sandler decreased their target price on 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. Finally, HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Trading Down 1.2 %

NYSE BAC opened at $46.21 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a twelve month low of $32.35 and a twelve month high of $48.08. The company has a market cap of $354.56 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.29 and a beta of 1.33. The business’s fifty day moving average is $45.77 and its 200 day moving average is $43.00.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $25.12 billion. During the same quarter last year, the business posted $0.70 EPS. Bank of America’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, sell-side analysts expect that Bank of America Co. will post 3.69 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.25%. The ex-dividend date is Friday, March 7th. Bank of America’s payout ratio is presently 32.30%.

Bank of America 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.