NBW Capital LLC Sells 810 Shares of Bank of America Co. (NYSE:BAC)

NBW Capital LLC trimmed its position in shares of Bank of America Co. (NYSE:BAC) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,917 shares of the financial services provider’s stock after selling 810 shares during the period. NBW Capital LLC’s holdings in Bank of America were worth $1,710,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of BAC. Two Sigma Advisers LP boosted its holdings in Bank of America by 31,021.6% during the third quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider’s stock valued at $405,049,000 after acquiring an additional 10,175,100 shares during the period. Swedbank AB boosted its holdings in Bank of America by 81.4% during the fourth quarter. Swedbank AB now owns 12,776,184 shares of the financial services provider’s stock valued at $561,513,000 after acquiring an additional 5,733,810 shares during the period. KBC Group NV boosted its holdings in Bank of America by 130.9% during the fourth 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 during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Bank of America by 193.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider’s stock valued at $301,898,000 after acquiring an additional 5,015,378 shares during the period. Finally, D1 Capital Partners L.P. bought a new stake in Bank of America during the third quarter valued at about $174,858,000. 70.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BAC has been the subject of a number of recent analyst reports. Evercore ISI decreased their price target on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Wells Fargo & Company increased their target price on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Piper Sandler reduced 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. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and increased their target price for the company from $46.00 to $54.00 in a research note on Friday, November 8th. Finally, Morgan Stanley increased their target price on shares of 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Stock Performance

NYSE BAC opened at $45.51 on Tuesday. The firm has a market cap of $346.09 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.21 and a beta of 1.33. The company has a 50 day moving average of $45.81 and a 200-day moving average of $43.67. 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 Co. has a 1-year low of $34.15 and a 1-year high of $48.08.

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 for the quarter, topping the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the business posted $0.70 earnings per share. On average, equities analysts forecast that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Friday, March 7th. 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.