GS Investments Inc. Lowers Position in Bank of America Co. (NYSE:BAC)

GS Investments Inc. decreased its position in shares of Bank of America Co. (NYSE:BAC) by 7.4% during the fourth quarter, Holdings Channel reports. The fund owned 33,488 shares of the financial services provider’s stock after selling 2,675 shares during the period. GS Investments Inc.’s holdings in Bank of America were worth $1,472,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BAC. Collier Financial bought a new position in Bank of America in the fourth quarter worth $25,000. Fairway Wealth LLC bought a new position in shares of Bank of America in the 4th quarter worth about $29,000. Highline Wealth Partners LLC increased 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 acquiring an additional 510 shares in the last quarter. Mascoma Wealth Management LLC lifted its position in Bank of America by 68.2% during the 4th quarter. Mascoma Wealth Management LLC now owns 890 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 361 shares during the period. Finally, Retirement Wealth Solutions LLC bought a new stake in Bank of America during the fourth quarter worth about $42,000. Institutional investors own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BAC shares. Evercore ISI dropped their price target 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. Keefe, Bruyette & Woods boosted their target price on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Morgan Stanley increased their target price on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Truist Financial lifted their price target on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Piper Sandler cut their price objective 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.64.

Bank of America Trading Up 1.4 %

Shares of NYSE:BAC opened at $42.24 on Thursday. Bank of America Co. has a 52-week low of $34.15 and a 52-week high of $48.08. The stock has a market capitalization of $321.10 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.21 and a beta of 1.32. 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’s 50-day simple moving average is $44.94 and its two-hundred day simple moving average is $43.77.

Bank of America (NYSE:BAC) last posted its quarterly earnings data 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 net margin of 14.10% and a return on equity of 10.29%. The company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter last year, the firm posted $0.70 earnings per share. The firm’s revenue was up 15.0% compared to the same quarter last year. Analysts expect that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid 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 2.46%. Bank of America’s dividend payout ratio (DPR) is 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.