Tucker Asset Management LLC Sells 1,355 Shares of Bank of America Co. (NYSE:BAC)

Tucker Asset Management LLC lowered its holdings in shares of Bank of America Co. (NYSE:BAC) by 15.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 7,227 shares of the financial services provider’s stock after selling 1,355 shares during the period. Tucker Asset Management LLC’s holdings in Bank of America were worth $318,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of BAC. Graney & King LLC acquired a new position in shares of Bank of America during the 4th quarter worth approximately $25,000. Collier Financial acquired a new position in shares of Bank of America in the fourth quarter valued at $25,000. Fairway Wealth LLC bought a new position in shares of Bank of America in the fourth quarter valued at about $29,000. Highline Wealth Partners LLC lifted its stake in shares of 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 buying an additional 510 shares during the last quarter. Finally, Mascoma Wealth Management LLC boosted its holdings in shares of 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 worth $39,000 after buying an additional 361 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

BAC stock opened at $41.24 on Friday. Bank of America Co. has a 1 year low of $34.15 and a 1 year 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 stock has a market cap of $313.50 billion, a price-to-earnings ratio of 12.81, a P/E/G ratio of 1.21 and a beta of 1.32. The company has a 50 day simple moving average of $44.45 and a 200 day simple moving average of $43.86.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Bank of America’s revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 EPS. Research analysts anticipate that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Friday, March 7th. Bank of America’s dividend payout ratio is currently 32.30%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BAC shares. Barclays increased their price target on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Evercore ISI dropped their price target on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Robert W. Baird raised Bank of America from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $45.00 to $50.00 in a report on Friday, March 7th. Truist Financial lifted their target price on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Finally, Keefe, Bruyette & Woods boosted their target price 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. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.45.

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.