Moloney Securities Asset Management LLC Has $714,000 Stake in Bank of America Co. (NYSE:BAC)

Moloney Securities Asset Management LLC reduced its holdings in shares of Bank of America Co. (NYSE:BAC) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,246 shares of the financial services provider’s stock after selling 1,149 shares during the period. Moloney Securities Asset Management LLC’s holdings in Bank of America were worth $714,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BAC. Forbes J M & Co. LLP grew its holdings in Bank of America by 0.4% in the fourth quarter. Forbes J M & Co. LLP now owns 437,909 shares of the financial services provider’s stock worth $19,246,000 after purchasing an additional 1,672 shares during the period. D Orazio & Associates Inc. grew its stake in shares of Bank of America by 10.4% in the 4th quarter. D Orazio & Associates Inc. now owns 6,775 shares of the financial services provider’s stock valued at $298,000 after buying an additional 639 shares during the period. Kingsview Wealth Management LLC increased its position in Bank of America by 1.5% in the 4th quarter. Kingsview Wealth Management LLC now owns 113,980 shares of the financial services provider’s stock valued at $5,009,000 after buying an additional 1,719 shares in the last quarter. Apollon Wealth Management LLC raised its stake in Bank of America by 10.3% during the 4th quarter. Apollon Wealth Management LLC now owns 161,375 shares of the financial services provider’s stock worth $7,092,000 after buying an additional 15,073 shares during the period. Finally, Unison Asset Management LLC boosted its holdings in Bank of America by 2.5% in the fourth quarter. Unison Asset Management LLC now owns 170,959 shares of the financial services provider’s stock worth $7,514,000 after acquiring an additional 4,241 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BAC shares. Barclays upped their target price on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Piper Sandler dropped their price target on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Finally, Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $54.00 in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Stock Down 0.7 %

BAC opened at $47.43 on Monday. The company has a 50 day moving average of $45.77 and a 200 day moving average of $42.92. 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 12 month low of $32.35 and a 12 month high of $48.08. The company has a market cap of $363.89 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.29 and a beta of 1.33.

Bank of America (NYSE:BAC) last released its quarterly earnings data 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. The company had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 EPS. On average, sell-side analysts expect that Bank of America Co. will post 3.69 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.19%. Bank of America’s dividend payout ratio (DPR) 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.