Bank of America Co. (NYSE:BAC) Shares Sold by Wiley BROS. Aintree Capital LLC

Wiley BROS. Aintree Capital LLC trimmed its stake in shares of Bank of America Co. (NYSE:BAC) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,282 shares of the financial services provider’s stock after selling 497 shares during the period. Wiley BROS. Aintree Capital LLC’s holdings in Bank of America were worth $440,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Kavar Capital Partners Group LLC grew its holdings in Bank of America by 1.7% during the second quarter. Kavar Capital Partners Group LLC now owns 16,611 shares of the financial services provider’s stock worth $517,000 after acquiring an additional 276 shares during the period. Sage Mountain Advisors LLC boosted its position in Bank of America by 3.3% during the third quarter. Sage Mountain Advisors LLC now owns 8,895 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 281 shares in the last quarter. Annapolis Financial Services LLC boosted its position in Bank of America by 2.2% during the third quarter. Annapolis Financial Services LLC now owns 13,785 shares of the financial services provider’s stock worth $416,000 after purchasing an additional 292 shares in the last quarter. Leisure Capital Management boosted its position in Bank of America by 1.5% during the third quarter. Leisure Capital Management now owns 20,055 shares of the financial services provider’s stock worth $606,000 after purchasing an additional 292 shares in the last quarter. Finally, Lowe Brockenbrough & Co. Inc. boosted its position in Bank of America by 1.1% during the third quarter. Lowe Brockenbrough & Co. Inc. now owns 26,888 shares of the financial services provider’s stock worth $812,000 after purchasing an additional 300 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on BAC shares. Odeon Capital Group downgraded Bank of America from a “buy” rating to a “hold” rating and set a $35.20 price target on the stock. in a research report on Wednesday, March 8th. Piper Sandler downgraded Bank of America from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $36.00 to $33.00 in a research report on Tuesday, January 17th. Atlantic Securities downgraded Bank of America from an “overweight” rating to a “neutral” rating and set a $40.00 target price on the stock. in a research report on Tuesday, January 31st. Citigroup raised their target price on Bank of America from $36.00 to $38.00 in a research report on Tuesday, January 17th. Finally, StockNews.com started coverage on Bank of America in a research report on Thursday. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Bank of America presently has an average rating of “Hold” and an average price target of $40.16.

Bank of America Price Performance

BAC stock opened at $27.82 on Friday. The business has a fifty day moving average of $34.02 and a two-hundred day moving average of $34.07. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 1.13. The stock has a market cap of $222.67 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 1.21 and a beta of 1.40. Bank of America Co. has a 52-week low of $27.62 and a 52-week high of $44.63.

Bank of America (NYSE:BAC – Get Rating) last issued its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. Bank of America had a return on equity of 11.41% and a net margin of 23.93%. The business had revenue of $24.50 billion during the quarter, compared to analysts’ expectations of $24.17 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. As a group, research analysts anticipate that Bank of America Co. will post 3.38 earnings per share for the current year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 3rd will be paid a $0.22 dividend. The ex-dividend date is Thursday, March 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.16%. Bank of America’s payout ratio is presently 27.59%.

Insider Activity

In other news, insider Matthew M. Koder sold 105,054 shares of Bank of America stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $34.27, for a total value of $3,600,200.58. Following the completion of the sale, the insider now directly owns 319,803 shares of the company’s stock, valued at $10,959,648.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Matthew M. Koder sold 214,745 shares of the business’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $35.91, for a total transaction of $7,711,492.95. Following the completion of the transaction, the insider now directly owns 214,747 shares of the company’s stock, valued at approximately $7,711,564.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Matthew M. Koder sold 105,054 shares of Bank of America stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of $34.27, for a total value of $3,600,200.58. Following the sale, the insider now directly owns 319,803 shares of the company’s stock, valued at $10,959,648.81. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

About Bank of America

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Bank of America Corp. is a bank and financial holding company, which engages in the provision of banking and nonbank financial services. It operates through the following segments: Consumer Banking, Global Wealth and Investment Management, Global Banking, Global Markets, and All Other. The Consumer Banking segment offers credit, banking, and investment products and services to consumers and small businesses.