Cable Hill Partners LLC Has $205,000 Stake in Bank of America Co. (NYSE:BAC)

Cable Hill Partners LLC cut its position in Bank of America Co. (NYSE:BAC) by 25.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,667 shares of the financial services provider’s stock after selling 1,635 shares during the quarter. Cable Hill Partners LLC’s holdings in Bank of America were worth $205,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BAC. Two Sigma Advisers LP lifted its stake in Bank of America by 31,021.6% during the third quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider’s stock worth $405,049,000 after purchasing an additional 10,175,100 shares during the last quarter. Swedbank AB lifted its position in shares of Bank of America by 81.4% during the 4th quarter. Swedbank AB now owns 12,776,184 shares of the financial services provider’s stock worth $561,513,000 after buying an additional 5,733,810 shares during the last quarter. KBC Group NV boosted its stake in Bank of America by 130.9% in the fourth quarter. KBC Group NV now owns 9,692,279 shares of the financial services provider’s stock valued at $425,976,000 after buying an additional 5,493,817 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Bank of America by 193.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider’s stock valued at $301,898,000 after acquiring an additional 5,015,378 shares during the last quarter. Finally, D1 Capital Partners L.P. acquired a new position in Bank of America during the third quarter worth about $174,858,000. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Up 0.5 %

Shares of BAC stock opened at $44.17 on Friday. The company has a market cap of $338.87 billion, a P/E ratio of 13.72, a PEG ratio of 1.21 and a beta of 1.33. Bank of America Co. has a fifty-two week low of $34.03 and a fifty-two week high of $48.08. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a 50 day simple moving average of $45.74 and a two-hundred day simple moving average of $43.50.

Bank of America (NYSE:BAC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 EPS. Research analysts forecast that Bank of America Co. will post 3.7 earnings per share for the current 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 issued a dividend of $0.26 per share. The ex-dividend date is Friday, March 7th. This represents a $1.04 annualized dividend and a yield of 2.35%. Bank of America’s payout ratio is 32.30%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BAC shares. Piper Sandler reduced 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 note on Friday, January 17th. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and increased their price target for the company from $46.00 to $54.00 in a research note on Friday, November 8th. Oppenheimer boosted their price objective 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. Truist Financial upped their target price on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Finally, Evercore ISI cut their price target on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.