Bank of America Co. (NYSE:BAC) Shares Sold by Curated Wealth Partners LLC

Curated Wealth Partners LLC lessened its position in shares of Bank of America Co. (NYSE:BAC) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 31,803 shares of the financial services provider’s stock after selling 556 shares during the period. Curated Wealth Partners LLC’s holdings in Bank of America were worth $1,327,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BAC. Parsons Capital Management Inc. RI lifted its stake in Bank of America by 0.6% during the first quarter. Parsons Capital Management Inc. RI now owns 200,111 shares of the financial services provider’s stock worth $8,351,000 after purchasing an additional 1,195 shares during the last quarter. Sonora Investment Management Group LLC raised its holdings in shares of Bank of America by 23.5% during the first quarter. Sonora Investment Management Group LLC now owns 8,054 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 1,533 shares during the period. Accurate Wealth Management LLC lifted its position in shares of Bank of America by 14.3% in the 1st quarter. Accurate Wealth Management LLC now owns 35,332 shares of the financial services provider’s stock worth $1,474,000 after buying an additional 4,422 shares during the last quarter. Fiduciary Financial Group LLC boosted its holdings in shares of Bank of America by 14.0% in the 1st quarter. Fiduciary Financial Group LLC now owns 20,834 shares of the financial services provider’s stock valued at $869,000 after buying an additional 2,563 shares during the period. Finally, Simplicity Wealth LLC grew its position in shares of Bank of America by 821.7% during the 1st quarter. Simplicity Wealth LLC now owns 63,576 shares of the financial services provider’s stock valued at $2,653,000 after buying an additional 56,678 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Piper Sandler cut their target price on shares of Bank of America from $45.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Argus cut their target price on Bank of America from $53.00 to $47.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. TD Cowen began coverage on shares of Bank of America in a research report on Thursday, May 15th. They set a “buy” rating and a $53.00 price target for the company. Cfra Research lifted their price objective on shares of Bank of America to $47.00 and gave the company a “buy” rating in a research report on Wednesday, April 16th. Finally, Oppenheimer reissued an “outperform” rating on shares of Bank of America in a research note on Thursday, May 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.50.

Bank of America Stock Down 0.1%

Bank of America stock opened at $44.93 on Tuesday. Bank of America Co. has a twelve month low of $33.07 and a twelve month high of $48.08. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $338.41 billion, a PE ratio of 13.95, a P/E/G ratio of 1.21 and a beta of 1.30. The firm’s 50 day moving average price is $40.78 and its two-hundred day moving average price is $43.44.

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

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, June 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.31%. Bank of America’s dividend payout ratio is 30.95%.

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.