Bank of America Co. (NYSE:BAC) Shares Sold by Compton Wealth Advisory Group LLC

Compton Wealth Advisory Group LLC lowered its stake in shares of Bank of America Co. (NYSE:BAC) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,403 shares of the financial services provider’s stock after selling 2,063 shares during the period. Compton Wealth Advisory Group LLC’s holdings in Bank of America were worth $2,743,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Fairway Wealth LLC purchased a new position in Bank of America in the second quarter valued at approximately $27,000. Kennebec Savings Bank purchased a new position in shares of Bank of America in the 3rd quarter valued at $29,000. Highline Wealth Partners LLC lifted its holdings 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 valued at $37,000 after acquiring an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc boosted its position in Bank of America by 525.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 852 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new stake in Bank of America in the 3rd quarter valued at $45,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of BAC traded down $0.20 during midday trading on Monday, reaching $44.91. The stock had a trading volume of 9,425,293 shares, compared to its average volume of 30,063,879. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $344.59 billion, a P/E ratio of 16.33, a P/E/G ratio of 1.55 and a beta of 1.33. The firm’s 50 day moving average price is $45.53 and its 200-day moving average price is $42.22. Bank of America Co. has a 52 week low of $31.27 and a 52 week high of $48.08.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.78 by $0.03. The firm had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.25 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. Bank of America’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 earnings per share. On average, analysts forecast that Bank of America Co. will post 3.27 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 6th were given a $0.26 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.04 annualized dividend and a yield of 2.32%. Bank of America’s dividend payout ratio (DPR) is 37.82%.

Insider Buying and Selling at Bank of America

In other Bank of America news, major shareholder Berkshire Hathaway Inc sold 8,694,538 shares of Bank of America stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $42.55, for a total transaction of $369,952,591.90. Following the completion of the sale, the insider now owns 766,305,462 shares of the company’s stock, valued at $32,606,297,408.10. This trade represents a 1.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.29% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BAC. Phillip Securities upgraded Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a research note on Friday, October 18th. Truist Financial initiated coverage on Bank of America in a research report on Tuesday, January 7th. They set a “buy” rating and a $52.00 price target on the stock. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and increased their price objective for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 target price on shares of Bank of America in a research report on Wednesday, October 9th. Finally, Piper Sandler raised their price target on shares of Bank of America from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

About Bank of America

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.