WMG Financial Advisors LLC Has $274,000 Position in Bank of America Co. (NYSE:BAC)

WMG Financial Advisors LLC lowered its holdings in Bank of America Co. (NYSE:BAC) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,226 shares of the financial services provider’s stock after selling 303 shares during the quarter. WMG Financial Advisors LLC’s holdings in Bank of America were worth $274,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Bank of America by 1.2% during the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock valued at $5,546,871,000 after acquiring an additional 1,700,141 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Bank of America by 4.9% during the fourth quarter. Bank of New York Mellon Corp now owns 59,613,837 shares of the financial services provider’s stock valued at $2,620,028,000 after acquiring an additional 2,806,927 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Bank of America by 3.7% during the fourth quarter. Fisher Asset Management LLC now owns 46,887,442 shares of the financial services provider’s stock valued at $2,060,703,000 after acquiring an additional 1,671,610 shares during the period. Alphinity Investment Management Pty Ltd lifted its stake in shares of Bank of America by 4.5% during the fourth quarter. Alphinity Investment Management Pty Ltd now owns 24,261,854 shares of the financial services provider’s stock valued at $1,066,308,000 after acquiring an additional 1,051,262 shares during the period. Finally, Sanders Capital LLC lifted its stake in shares of Bank of America by 2.8% during the third quarter. Sanders Capital LLC now owns 22,341,213 shares of the financial services provider’s stock valued at $886,499,000 after acquiring an additional 601,211 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BAC. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, January 7th. Evercore ISI reduced their target price 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. Truist Financial raised 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, Wells Fargo & Company raised their target price on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Stock Down 1.3 %

Shares of Bank of America stock opened at $45.51 on Tuesday. The business’s 50 day simple moving average is $45.81 and its 200 day simple moving average is $43.67. Bank of America Co. has a 52-week low of $34.15 and a 52-week high of $48.08. The firm has a market cap of $346.09 billion, a PE ratio of 14.13, a P/E/G ratio of 1.21 and a beta of 1.33. 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 announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating 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 business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same quarter last year, the firm earned $0.70 EPS. Bank of America’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, analysts predict that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend 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.