Bank of America Co. (NYSE:BAC) Stock Holdings Decreased by Joel Isaacson & Co. LLC

Joel Isaacson & Co. LLC lessened its position in Bank of America Co. (NYSE:BAC) by 11.6% in the 4th quarter, Holdings Channel reports. The fund owned 83,663 shares of the financial services provider’s stock after selling 11,013 shares during the period. Joel Isaacson & Co. LLC’s holdings in Bank of America were worth $3,677,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kennebec Savings Bank acquired a new position in Bank of America in the third quarter worth approximately $29,000. Highline Wealth Partners LLC grew its position in Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 510 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Bank of America during the 4th quarter worth $42,000. Christopher J. Hasenberg Inc raised its holdings in shares of Bank of America by 525.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 852 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Bank of America in the 3rd quarter valued at $45,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Stock Down 0.7 %

BAC opened at $47.43 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 stock has a fifty day moving average of $45.77 and a 200-day moving average of $42.88. Bank of America Co. has a fifty-two week low of $32.35 and a fifty-two week high of $48.08. The company has a market capitalization of $363.89 billion, a P/E ratio of 14.73, a P/E/G ratio of 1.26 and a beta of 1.33.

Bank of America (NYSE:BAC) last posted 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. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm 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 EPS. The company’s revenue was up 15.0% on a year-over-year basis. On average, equities analysts expect that Bank of America Co. will post 3.67 EPS for the current year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors 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 annualized dividend and a dividend yield of 2.19%. Bank of America’s dividend payout ratio is currently 32.30%.

Analyst Ratings Changes

A number of research analysts recently weighed in on BAC shares. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Truist Financial boosted their price objective on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Keefe, Bruyette & Woods raised their target price on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Oppenheimer boosted their target price on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Finally, Barclays raised their price target on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

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.