M Holdings Securities Inc. Has $1.14 Million Holdings in Bank of America Co. (NYSE:BAC)

M Holdings Securities Inc. reduced its stake in Bank of America Co. (NYSE:BAC) by 1.9% during the 4th quarter, HoldingsChannel reports. The fund owned 25,848 shares of the financial services provider’s stock after selling 514 shares during the quarter. M Holdings Securities Inc.’s holdings in Bank of America were worth $1,136,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Bank of America during the 4th quarter worth approximately $5,226,989,000. Amundi boosted its holdings in Bank of America by 37.1% during the fourth quarter. Amundi now owns 37,819,980 shares of the financial services provider’s stock worth $1,747,658,000 after purchasing an additional 10,231,001 shares during the last quarter. Ontario Teachers Pension Plan Board increased its stake in Bank of America by 71,357.5% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 8,632,780 shares of the financial services provider’s stock valued at $379,411,000 after buying an additional 8,620,699 shares during the last quarter. Swedbank AB boosted its stake in shares of Bank of America by 81.4% during the 4th quarter. Swedbank AB now owns 12,776,184 shares of the financial services provider’s stock worth $561,513,000 after buying an additional 5,733,810 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Bank of America by 130.9% in the 4th quarter. KBC Group NV now owns 9,692,279 shares of the financial services provider’s stock valued at $425,976,000 after acquiring an additional 5,493,817 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

BAC has been the subject of a number of analyst reports. Morgan Stanley raised their price target on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Piper Sandler cut their price target 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. Oppenheimer upped their target price on shares of Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Truist Financial lowered their price target on Bank of America from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, April 4th. Finally, Baird R W raised Bank of America from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and a consensus target price of $48.31.

Bank of America Stock Performance

Shares of NYSE:BAC opened at $36.64 on Tuesday. The company’s 50 day simple moving average is $42.04 and its 200 day simple moving average is $43.70. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. Bank of America Co. has a 1 year low of $33.07 and a 1 year high of $48.08. The stock has a market capitalization of $278.57 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 1.21 and a beta of 1.24.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $25.12 billion. During the same period in the prior year, the company earned $0.70 EPS. Bank of America’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, research analysts predict that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.84%. The ex-dividend date was Friday, March 7th. Bank of America’s payout ratio is 32.30%.

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.