Leisure Capital Management Has $885,000 Stock Position in Bank of America Co. (NYSE:BAC)

Leisure Capital Management lowered its stake in shares of Bank of America Co. (NYSE:BAC) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,147 shares of the financial services provider’s stock after selling 521 shares during the period. Leisure Capital Management’s holdings in Bank of America were worth $885,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of BAC. Accent Capital Management LLC raised its stake in shares of Bank of America by 43.0% in the third quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider’s stock worth $1,567,000 after purchasing an additional 11,873 shares during the last quarter. Summit Global Investments grew its stake in shares of Bank of America by 237.6% in the 3rd quarter. Summit Global Investments now owns 51,278 shares of the financial services provider’s stock worth $2,035,000 after acquiring an additional 36,089 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Bank of America by 1.2% in the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock valued at $5,546,871,000 after purchasing an additional 1,700,141 shares during the last quarter. Clarendon Private LLC bought a new position in shares of Bank of America in the fourth quarter valued at approximately $798,000. Finally, Baker Avenue Asset Management LP grew its holdings in shares of Bank of America by 125.8% in the third quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider’s stock valued at $2,421,000 after acquiring an additional 33,983 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Down 1.0 %

Shares of NYSE BAC opened at $46.25 on Monday. The stock has a market capitalization of $354.84 billion, a P/E ratio of 14.36, a PEG ratio of 1.26 and a beta of 1.33. Bank of America Co. has a one year low of $32.35 and a one year high of $48.08. The firm’s 50 day simple moving average is $45.83 and its two-hundred day simple moving average is $42.77. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.

Bank of America (NYSE:BAC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. During the same quarter last year, the company earned $0.70 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. As a group, analysts expect that Bank of America Co. will post 3.67 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s dividend payout ratio is presently 32.30%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Oppenheimer upped their price objective on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Morgan Stanley raised their price objective on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Wells Fargo & Company increased their target price on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Evercore ISI lowered their price target on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Finally, Piper Sandler reduced their price objective on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and an average target price of $48.58.

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.