Bank of America Co. (NYSE:BAC) Shares Sold by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC lessened its holdings in shares of Bank of America Co. (NYSE:BAC) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,913,585 shares of the financial services provider’s stock after selling 265,329 shares during the quarter. Bank of America makes up about 1.8% of Barrow Hanley Mewhinney & Strauss LLC’s portfolio, making the stock its 14th biggest holding. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Bank of America were worth $523,602,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Graney & King LLC purchased a new position in Bank of America in the 4th quarter worth approximately $25,000. Collier Financial acquired a new stake in shares of Bank of America in the 4th quarter worth $25,000. Fairway Wealth LLC purchased a new position in shares of Bank of America during the 4th quarter worth $29,000. Highline Wealth Partners LLC boosted its position in shares of Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 510 shares during the last quarter. Finally, Mascoma Wealth Management LLC grew its holdings in shares of 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 valued at $39,000 after purchasing an additional 361 shares during the period. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on BAC shares. Piper Sandler dropped their price target on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Truist Financial increased their price target on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Morgan Stanley upped their price target on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Finally, HSBC upgraded 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. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and an average target price of $48.45.

Bank of America Trading Down 3.1 %

Shares of BAC stock opened at $41.24 on Friday. The company has a market capitalization of $313.50 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a twelve month low of $34.15 and a twelve month high of $48.08. The business’s 50 day moving average is $44.45 and its two-hundred day moving average is $43.89.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business’s revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.70 earnings per share. Equities analysts forecast that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were paid a $0.26 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.52%. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

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.