Community Bank & Trust Waco Texas Trims Holdings in Bank of America Co. (NYSE:BAC)

Community Bank & Trust Waco Texas lessened its holdings in shares of Bank of America Co. (NYSE:BAC) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,381 shares of the financial services provider’s stock after selling 470 shares during the period. Community Bank & Trust Waco Texas’ holdings in Bank of America were worth $1,379,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BAC. Collier Financial purchased a new position in shares of Bank of America during the 4th quarter worth approximately $25,000. Kennebec Savings Bank purchased a new stake in shares of Bank of America in the 3rd quarter worth approximately $29,000. Highline Wealth Partners LLC grew its stake in shares of Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after buying an additional 510 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Bank of America in the 4th quarter worth approximately $42,000. Finally, POM Investment Strategies LLC grew its stake in shares of Bank of America by 1,306.5% in the 4th quarter. POM Investment Strategies LLC now owns 1,083 shares of the financial services provider’s stock worth $48,000 after buying an additional 1,006 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of Bank of America stock opened at $46.65 on Tuesday. Bank of America Co. has a one year low of $32.35 and a one year high of $48.08. The stock’s fifty day moving average is $45.77 and its 200 day moving average is $42.93. The stock has a market cap of $357.91 billion, a P/E ratio of 14.49, a P/E/G ratio of 1.29 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78.

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. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the prior year, the business posted $0.70 EPS. Bank of America’s revenue for the quarter was up 15.0% compared to the same quarter last year. Sell-side analysts anticipate that Bank of America Co. will post 3.69 earnings per share for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.23%. Bank of America’s dividend payout ratio (DPR) is 32.30%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and upped their price target for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, January 7th. Oppenheimer upped their price target on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Keefe, Bruyette & Woods upped their price objective on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Phillip Securities raised Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

About Bank of America

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.