Visionary Wealth Advisors Sells 2,349 Shares of Bank of America Co. (NYSE:BAC)

Visionary Wealth Advisors lessened its position in shares of Bank of America Co. (NYSE:BAC) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,255 shares of the financial services provider’s stock after selling 2,349 shares during the period. Visionary Wealth Advisors’ holdings in Bank of America were worth $1,857,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Bank of America by 4.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,940,121 shares of the financial services provider’s stock worth $173,168,000 after buying an additional 173,021 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Bank of America in the 4th quarter worth $60,679,000. Arizona State Retirement System increased its holdings in shares of Bank of America by 0.5% in 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 buying an additional 10,377 shares during the last quarter. Keybank National Association OH increased its holdings in shares of Bank of America by 1.1% in the 4th quarter. Keybank National Association OH now owns 3,458,616 shares of the financial services provider’s stock worth $152,006,000 after buying an additional 38,258 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of 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 worth $1,886,769,000 after buying an additional 297,858 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Up 0.1%

Shares of NYSE BAC opened at $44.74 on Tuesday. 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 12 month low of $33.07 and a 12 month high of $48.08. The firm has a market capitalization of $336.98 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27. The firm has a fifty day simple moving average of $40.13 and a two-hundred day simple moving average of $43.59.

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

Bank of America Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.04 annualized dividend and a yield of 2.32%. Bank of America’s dividend payout ratio (DPR) is presently 30.95%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BAC. Truist Financial cut their price objective on shares of Bank of America from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods cut their price objective on shares of Bank of America from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Wednesday, April 16th. Robert W. Baird raised shares of Bank of America from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $45.00 to $50.00 in a research note on Friday, March 7th. JPMorgan Chase & Co. cut their price objective on shares of Bank of America from $49.50 to $43.50 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Finally, Piper Sandler cut their price objective on shares of Bank of America from $45.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.