Bank of Stockton Has $757,000 Stake in Bank of America Co. (NYSE:BAC)

Bank of Stockton decreased its position in Bank of America Co. (NYSE:BAC) by 18.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,230 shares of the financial services provider’s stock after selling 3,896 shares during the quarter. Bank of Stockton’s holdings in Bank of America were worth $757,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Collier Financial bought a new stake in shares of Bank of America in the 4th quarter valued at approximately $25,000. Kennebec Savings Bank bought a new stake in shares of Bank of America in the 3rd quarter valued at approximately $29,000. Highline Wealth Partners LLC grew 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 valued at $37,000 after buying an additional 510 shares in the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Bank of America in the 4th quarter valued at approximately $42,000. Finally, POM Investment Strategies LLC grew its stake in shares of Bank of America by 1,306.5% in the 4th quarter. POM Investment Strategies LLC now owns 1,083 shares of the financial services provider’s stock valued at $48,000 after buying an additional 1,006 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Down 1.5 %

BAC opened at $45.31 on Friday. Bank of America Co. has a fifty-two week low of $33.17 and a fifty-two week high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The firm’s fifty day moving average price is $45.77 and its two-hundred day moving average price is $43.27. The company has a market capitalization of $347.62 billion, a P/E ratio of 14.07, a P/E/G ratio of 1.24 and a beta of 1.33.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share 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 firm had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter in the previous year, the company earned $0.70 earnings per share. The business’s revenue was up 15.0% compared to the same quarter last year. On average, analysts anticipate that Bank of America Co. will post 3.69 EPS for the current year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.30%. Bank of America’s dividend payout ratio is currently 32.30%.

Wall Street Analyst Weigh In

BAC has been the subject of several recent research reports. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Wells Fargo & Company increased their price target on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Evercore ISI lowered their price target on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Truist Financial increased their price target on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, Keefe, Bruyette & Woods increased their price target on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus target price 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.