Nottingham Advisors Inc. Sells 1,506 Shares of Bank of America Co. (NYSE:BAC)

Nottingham Advisors Inc. lessened its holdings in shares of Bank of America Co. (NYSE:BAC) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,760 shares of the financial services provider’s stock after selling 1,506 shares during the quarter. Nottingham Advisors Inc.’s holdings in Bank of America were worth $1,044,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of BAC. Collier Financial bought a new stake in Bank of America in the 4th quarter valued at $25,000. Life Planning Partners Inc increased its holdings in shares of Bank of America by 3,883.2% in the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 545,936 shares during the last quarter. Graney & King LLC bought a new position in shares of Bank of America in the fourth quarter valued at about $25,000. Fairway Wealth LLC acquired a new stake in shares of Bank of America during the 4th quarter worth about $29,000. Finally, Highline Wealth Partners LLC boosted 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 worth $37,000 after buying an additional 510 shares during the period. Institutional investors own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BAC shares. Truist Financial raised their price objective 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. Barclays lifted their price target on 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 Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Citigroup dropped 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. Finally, Robert W. Baird raised shares of Bank of America from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $45.00 to $50.00 in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and an average target price of $48.31.

Bank of America Price Performance

Shares of BAC stock opened at $41.87 on Thursday. The business has a fifty day simple moving average of $44.17 and a 200 day simple moving average of $43.96. The company has a market cap of $318.33 billion, a P/E ratio of 13.00, a P/E/G ratio of 1.21 and a beta of 1.32. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a twelve month low of $34.15 and a twelve month high of $48.08.

Bank of America (NYSE:BAC) last posted 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. The firm had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 earnings per share. On average, sell-side analysts forecast that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.48%. 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.