Bank of America Co. (NYSE:BAC) Shares Sold by Life Planning Partners Inc

Life Planning Partners Inc trimmed its stake in Bank of America Co. (NYSE:BAC) by 9.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,742 shares of the financial services provider’s stock after selling 1,317 shares during the quarter. Life Planning Partners Inc’s holdings in Bank of America were worth $560,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Graney & King LLC acquired a new position in shares of Bank of America in the fourth quarter worth about $25,000. Collier Financial purchased a new stake in shares of Bank of America in the 4th quarter valued at approximately $25,000. Fairway Wealth LLC acquired a new position in Bank of America in the 4th quarter worth approximately $29,000. Highline Wealth Partners LLC grew its position 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 in the last quarter. Finally, Mascoma Wealth Management LLC raised its stake 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 purchasing an additional 361 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Baird R W upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Barclays upped their price objective on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Piper Sandler decreased their target price on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Finally, Morgan Stanley increased their price objective 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and three have given 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 target price of $48.45.

Bank of America Price Performance

BAC stock opened at $41.24 on Friday. The stock has a 50-day moving average price of $44.45 and a two-hundred day moving average price of $43.89. Bank of America Co. has a 1 year low of $34.15 and a 1 year high of $48.08. The stock has a market cap of $313.50 billion, a PE ratio of 12.81, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32. 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 (NYSE:BAC) last announced 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 net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the previous year, the firm posted $0.70 earnings per share. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. Equities analysts forecast that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.52%. Bank of America’s payout ratio is 32.30%.

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.