S&CO Inc. Sells 820 Shares of Bank of America Co. (NYSE:BAC)

S&CO Inc. lowered its position in Bank of America Co. (NYSE:BAC) by 0.9% in the 4th quarter, Holdings Channel reports. The fund owned 92,832 shares of the financial services provider’s stock after selling 820 shares during the quarter. S&CO Inc.’s holdings in Bank of America were worth $4,079,000 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 shares of Bank of America in the 4th quarter worth approximately $25,000. Life Planning Partners Inc raised its position in shares of Bank of America by 3,883.2% in the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 545,936 shares in the last quarter. Kennebec Savings Bank bought a new position in shares of Bank of America in the 3rd quarter worth approximately $29,000. Highline Wealth Partners LLC raised its position 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. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Bank of America in the 4th quarter worth approximately $42,000. Institutional investors own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods increased their target price on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Baird R W upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Friday. Truist Financial upped their price target on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Barclays upped their price target on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.64.

Bank of America Stock Performance

Shares of BAC opened at $39.79 on Tuesday. 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 one year low of $34.15 and a one year high of $48.08. The firm has a market capitalization of $302.55 billion, a P/E ratio of 12.36, a PEG ratio of 1.21 and a beta of 1.32. The business has a fifty day moving average of $45.53 and a 200 day moving average of $43.76.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS 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 company had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. Bank of America’s revenue was up 15.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The business also recently announced 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 yield of 2.61%. Bank of America’s dividend payout ratio (DPR) is presently 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.