Transamerica Financial Advisors Inc. Sells 364 Shares of Bank of America Co. (NYSE:BAC)

Transamerica Financial Advisors Inc. decreased its holdings in Bank of America Co. (NYSE:BAC) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,927 shares of the financial services provider’s stock after selling 364 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Bank of America were worth $613,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of BAC. Collier Financial bought a new stake in shares of Bank of America in the 4th quarter valued at about $25,000. Life Planning Partners Inc lifted its stake in shares of Bank of America by 3,883.2% in the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 545,936 shares during the period. Graney & King LLC bought a new stake in Bank of America in the fourth quarter valued at approximately $25,000. Fairway Wealth LLC acquired a new stake in Bank of America during the 4th quarter valued at approximately $29,000. Finally, Highline Wealth Partners LLC raised its holdings in 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 worth $37,000 after purchasing an additional 510 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Price Performance

BAC stock opened at $41.24 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The business has a 50-day simple moving average of $44.45 and a two-hundred day simple moving average of $43.89. 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. Bank of America Co. has a 52-week low of $34.15 and a 52-week high of $48.08.

Bank of America (NYSE:BAC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share 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 company had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same quarter last year, the company earned $0.70 earnings per share. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. Research analysts expect that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders 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 annualized dividend and a dividend yield of 2.52%. Bank of America’s payout ratio is 32.30%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Robert W. Baird upgraded shares of Bank of America from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $45.00 to $50.00 in a research report on Friday, March 7th. Morgan Stanley increased their price target on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Truist Financial boosted their price objective on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, January 17th. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and raised their target price for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. Finally, Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.45.

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.