Bank of America Co. (NYSE:BAC) Shares Sold by Roffman Miller Associates Inc. PA

Roffman Miller Associates Inc. PA lessened its stake in Bank of America Co. (NYSE:BAC) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 658,258 shares of the financial services provider’s stock after selling 1,881 shares during the quarter. Bank of America comprises approximately 1.8% of Roffman Miller Associates Inc. PA’s holdings, making the stock its 22nd biggest holding. Roffman Miller Associates Inc. PA’s holdings in Bank of America were worth $28,930,000 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. Lederer & Associates Investment Counsel CA boosted its holdings in Bank of America by 1.1% in the 4th quarter. Lederer & Associates Investment Counsel CA now owns 20,000 shares of the financial services provider’s stock valued at $879,000 after purchasing an additional 217 shares during the period. Prossimo Advisors LLC boosted its holdings in Bank of America by 2.5% in the 4th quarter. Prossimo Advisors LLC now owns 8,880 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 220 shares during the period. Marino Stram & Associates LLC boosted its holdings in Bank of America by 1.7% in the 4th quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock valued at $580,000 after purchasing an additional 222 shares during the period. Keudell Morrison Wealth Management boosted its holdings in Bank of America by 2.8% in the 4th quarter. Keudell Morrison Wealth Management now owns 8,291 shares of the financial services provider’s stock valued at $364,000 after purchasing an additional 223 shares during the period. Finally, Traveka Wealth LLC lifted its holdings in shares of Bank of America by 2.7% during the 4th quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 226 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barclays raised their price objective on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Oppenheimer raised their price objective on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $43.00 to $53.00 in a report on Tuesday, January 7th. Finally, Truist Financial increased their target price on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Stock Down 1.1 %

Shares of NYSE BAC opened at $44.80 on Monday. The firm has a market capitalization of $343.71 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 1.22 and a beta of 1.33. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 1 year low of $33.37 and a 1 year high of $48.08. The firm’s 50-day moving average is $45.75 and its 200-day moving average is $43.41.

Bank of America (NYSE:BAC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 EPS. Equities analysts expect that Bank of America Co. will post 3.69 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

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.