Bank of America Co. (NYSE:BAC) Shares Sold by Y.D. More Investments Ltd

Y.D. More Investments Ltd trimmed its stake in shares of Bank of America Co. (NYSE:BAC) by 54.5% in the fourth quarter, Holdings Channel reports. The fund owned 27,525 shares of the financial services provider’s stock after selling 33,028 shares during the period. Y.D. More Investments Ltd’s holdings in Bank of America were worth $1,210,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Czech National Bank raised its holdings in Bank of America by 6.0% during the third quarter. Czech National Bank now owns 1,375,216 shares of the financial services provider’s stock worth $54,569,000 after purchasing an additional 78,376 shares during the last quarter. Miracle Mile Advisors LLC increased its stake in shares of Bank of America by 10.4% during the 3rd quarter. Miracle Mile Advisors LLC now owns 19,798 shares of the financial services provider’s stock worth $786,000 after purchasing an additional 1,858 shares in the last quarter. Verde Servicos Internacionais S.A. purchased a new stake in Bank of America in the 3rd quarter valued at approximately $10,880,000. Bath Savings Trust Co increased its position in Bank of America by 5.5% during the third quarter. Bath Savings Trust Co now owns 9,620 shares of the financial services provider’s stock worth $382,000 after buying an additional 500 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Bank of America by 16.8% in the third quarter. Versant Capital Management Inc now owns 8,655 shares of the financial services provider’s stock valued at $343,000 after acquiring an additional 1,243 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BAC has been the subject of several analyst reports. Morgan Stanley boosted their target price on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price target on shares of Bank of America in a research note on Wednesday, October 9th. 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 research report on Friday, January 17th. Piper Sandler lowered their price target on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Finally, Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target on the stock in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Trading Up 1.1 %

BAC opened at $46.73 on Wednesday. The firm’s 50 day moving average is $45.81 and its 200-day moving average is $42.79. Bank of America Co. has a 52-week low of $32.35 and a 52-week high of $48.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $358.57 billion, a P/E ratio of 14.51, a P/E/G ratio of 1.26 and a beta of 1.33.

Bank of America (NYSE:BAC) last issued its quarterly earnings data 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 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 firm’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 EPS. Analysts expect that Bank of America Co. will post 3.67 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.23%. 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.