Mosaic Financial Group LLC Sells 964 Shares of Bank of America Co. (NYSE:BAC)

Mosaic Financial Group LLC reduced its position in Bank of America Co. (NYSE:BAC) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,609 shares of the financial services provider’s stock after selling 964 shares during the quarter. Bank of America accounts for approximately 1.1% of Mosaic Financial Group LLC’s investment portfolio, making the stock its 21st largest holding. Mosaic Financial Group LLC’s holdings in Bank of America were worth $1,565,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Collier Financial bought a new position in shares of Bank of America in the 4th quarter worth $25,000. Life Planning Partners Inc boosted its position in Bank of America by 3,883.2% during the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 545,936 shares in the last quarter. Graney & King LLC bought a new position in Bank of America in the fourth quarter worth about $25,000. Fairway Wealth LLC purchased a new stake in shares of Bank of America during the fourth quarter valued at about $29,000. Finally, Highline Wealth Partners LLC boosted its holdings in shares of Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after buying an additional 510 shares in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on BAC. Truist Financial boosted their price objective on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Keefe, Bruyette & Woods upped their price target on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Evercore ISI lowered their price objective on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Oppenheimer upped their target price on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Finally, Robert W. Baird raised Bank of America from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $45.00 to $50.00 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 issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.45.

Bank of America Price Performance

NYSE:BAC opened at $41.80 on Tuesday. The firm’s fifty day moving average is $44.35 and its two-hundred day moving average is $43.95. The firm has a market cap of $317.80 billion, a price-to-earnings ratio of 12.98, 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. Bank of America Co. has a one year low of $34.15 and a one year high of $48.08.

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, topping analysts’ consensus estimates of $0.77 by $0.05. The firm had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 earnings per share. Research analysts expect that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.49%. The ex-dividend date was Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is 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.