Bank of America Co. (NYSE:BAC) Holdings Decreased by Mill Capital Management LLC

Mill Capital Management LLC cut its holdings in Bank of America Co. (NYSE:BAC) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,455 shares of the financial services provider’s stock after selling 724 shares during the quarter. Mill Capital Management LLC’s holdings in Bank of America were worth $1,514,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Collier Financial bought a new stake in Bank of America in the fourth quarter worth about $25,000. Fairway Wealth LLC bought a new stake in Bank of America in the fourth quarter worth about $29,000. Highline Wealth Partners LLC raised its position in Bank of America by 152.7% in 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 in the last quarter. Mascoma Wealth Management LLC raised its position in Bank of America by 68.2% in 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 in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in Bank of America in the fourth quarter worth about $42,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America Trading Down 0.0 %

Shares of NYSE BAC opened at $42.47 on Monday. The stock has a market cap of $322.88 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.21 and a beta of 1.32. The business has a 50 day simple moving average of $44.81 and a 200 day simple moving average of $43.81. Bank of America Co. has a 52 week low of $34.15 and a 52 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.

Bank of America (NYSE:BAC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping 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 firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same period in the previous year, the company earned $0.70 EPS. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, research analysts predict that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a yield of 2.45%. Bank of America’s dividend payout ratio (DPR) is currently 32.30%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Truist Financial boosted their price objective on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Oppenheimer boosted their price objective on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Barclays boosted their price objective on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Baird R W upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.64.

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.