Bank of America Co. (NYSE:BAC) Shares Sold by SS&H Financial Advisors Inc.

SS&H Financial Advisors Inc. lessened its holdings in Bank of America Co. (NYSE:BAC) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,533 shares of the financial services provider’s stock after selling 1,025 shares during the period. Bank of America makes up 1.1% of SS&H Financial Advisors Inc.’s investment portfolio, making the stock its 26th largest position. SS&H Financial Advisors Inc.’s holdings in Bank of America were worth $2,860,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BAC. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Bank of America by 4.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,940,121 shares of the financial services provider’s stock worth $173,168,000 after purchasing an additional 173,021 shares in the last quarter. OFI Invest Asset Management acquired a new position in Bank of America during the 4th quarter worth about $60,679,000. Arizona State Retirement System lifted its stake in Bank of America by 0.5% during the 4th quarter. Arizona State Retirement System now owns 2,028,439 shares of the financial services provider’s stock worth $89,150,000 after acquiring an additional 10,377 shares in the last quarter. Keybank National Association OH boosted its holdings in Bank of America by 1.1% during the 4th quarter. Keybank National Association OH now owns 3,458,616 shares of the financial services provider’s stock valued at $152,006,000 after acquiring an additional 38,258 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Bank of America by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 42,929,896 shares of the financial services provider’s stock valued at $1,886,769,000 after acquiring an additional 297,858 shares in the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Trading Up 1.4%

NYSE BAC opened at $44.68 on Wednesday. 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 company’s fifty day moving average price is $40.53 and its two-hundred day moving average price is $43.52. Bank of America Co. has a 12 month low of $33.07 and a 12 month high of $48.08. The company has a market capitalization of $336.52 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business had revenue of $27.37 billion during the quarter, compared to analyst estimates of $26.83 billion. As a group, research analysts predict that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America’s payout ratio is 30.95%.

Wall Street Analyst Weigh In

BAC has been the topic of several research reports. Wall Street Zen cut shares of Bank of America from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Truist Financial decreased their price target on shares of Bank of America from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Oppenheimer reaffirmed an “outperform” rating on shares of Bank of America in a research report on Thursday, May 22nd. Cfra Research increased their price objective on Bank of America to $47.00 and gave the company a “buy” rating in a research note on Wednesday, April 16th. Finally, Citigroup decreased their target price on Bank of America from $54.00 to $50.00 and set a “buy” rating for the company in a report on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and an average target price of $47.50.

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.