Monument Capital Management Sells 3,989 Shares of Bank of America Co. (NYSE:BAC)

Monument Capital Management cut its holdings in Bank of America Co. (NYSE:BAC) by 15.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,971 shares of the financial services provider’s stock after selling 3,989 shares during the period. Monument Capital Management’s holdings in Bank of America were worth $906,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of BAC. Norges Bank acquired a new stake in Bank of America during the fourth quarter worth about $3,938,246,000. UBS Asset Management Americas Inc. grew its position in Bank of America by 0.8% during the third quarter. UBS Asset Management Americas Inc. now owns 29,530,173 shares of the financial services provider’s stock worth $1,253,556,000 after buying an additional 223,675 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Bank of America by 16.1% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 16,104,424 shares of the financial services provider’s stock worth $717,144,000 after buying an additional 2,232,964 shares in the last quarter. Himalaya Capital Management LLC grew its position in Bank of America by 18.0% during the fourth quarter. Himalaya Capital Management LLC now owns 14,586,987 shares of the financial services provider’s stock worth $648,975,000 after buying an additional 2,228,000 shares in the last quarter. Finally, Ensign Peak Advisors Inc grew its position in Bank of America by 9.8% during the fourth quarter. Ensign Peak Advisors Inc now owns 11,123,987 shares of the financial services provider’s stock worth $494,906,000 after buying an additional 994,774 shares in the last quarter. Institutional investors and hedge funds own 70.46% of the company’s stock.

NYSE BAC traded down $0.61 on Thursday, reaching $31.99. The company had a trading volume of 637,823 shares, compared to its average volume of 43,987,948. The firm has a market capitalization of $257.74 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 1.40 and a beta of 1.38. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.74 and a current ratio of 0.74. Bank of America Co. has a 1-year low of $30.86 and a 1-year high of $50.11. The company’s fifty day moving average is $35.77 and its 200-day moving average is $41.44.

Bank of America (NYSE:BACGet Rating) last announced its earnings results on Monday, April 18th. The financial services provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. The firm had revenue of $23.20 billion during the quarter, compared to analyst estimates of $23.09 billion. Bank of America had a net margin of 32.84% and a return on equity of 12.55%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.86 EPS. On average, research analysts forecast that Bank of America Co. will post 3.34 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 3rd will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.63%. Bank of America’s dividend payout ratio is 24.00%.

A number of research firms have weighed in on BAC. BMO Capital Markets decreased their price objective on Bank of America from $48.00 to $46.00 and set a “market perform” rating on the stock in a report on Tuesday, April 19th. Piper Sandler cut their target price on shares of Bank of America from $57.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, April 5th. The Goldman Sachs Group cut their target price on shares of Bank of America from $52.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, April 20th. Oppenheimer cut their target price on shares of Bank of America from $52.00 to $50.00 in a research note on Tuesday, May 3rd. Finally, StockNews.com initiated coverage on shares of Bank of America in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.10.

Bank of America Company Profile (Get Rating)

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. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans.

See Also

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Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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