Wealth Architects LLC Trims Holdings in Bank of America Co. (NYSE:BAC)

Wealth Architects LLC trimmed its position in Bank of America Co. (NYSE:BAC) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,976 shares of the financial services provider’s stock after selling 869 shares during the quarter. Wealth Architects LLC’s holdings in Bank of America were worth $1,273,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Collier Financial acquired a new stake in Bank of America during the fourth quarter worth about $25,000. Fairway Wealth LLC acquired a new stake in Bank of America during the fourth 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. Mascoma Wealth Management LLC grew its holdings in Bank of America by 68.2% during the fourth quarter. Mascoma Wealth Management LLC now owns 890 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 361 shares during the period. Finally, Retirement Wealth Solutions LLC acquired a new stake in Bank of America during the fourth quarter worth about $42,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Stock Performance

Shares of Bank of America stock opened at $40.97 on Monday. Bank of America Co. has a one year low of $34.15 and a one year high of $48.08. The company has a market cap of $311.45 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.21 and a beta of 1.32. 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 business’s 50 day moving average price is $45.19 and its 200 day moving average price is $43.76.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates 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 firm 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 earnings per share. The firm’s revenue was up 15.0% compared to the same quarter last year. On average, research analysts predict that Bank of America Co. will post 3.7 EPS for the current 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 given a dividend of $0.26 per share. 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 2.54%. Bank of America’s payout ratio is 32.30%.

Wall Street Analyst Weigh In

Several research firms recently commented on BAC. Robert W. Baird raised Bank of America from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $45.00 to $50.00 in a report on Friday, March 7th. Evercore ISI dropped their price objective on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, January 7th. Morgan Stanley raised their price objective on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Finally, Baird R W raised Bank of America from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.