Hamilton Point Investment Advisors LLC Trims Stake in Bank of America Co. (NYSE:BAC)

Hamilton Point Investment Advisors LLC lowered its stake in shares of Bank of America Co. (NYSE:BAC) by 7.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,798 shares of the financial services provider’s stock after selling 493 shares during the quarter. Hamilton Point Investment Advisors LLC’s holdings in Bank of America were worth $255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kennebec Savings Bank purchased a new position in shares of Bank of America during the third quarter valued at about $29,000. Highline Wealth Partners LLC boosted its stake in Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc boosted its stake in Bank of America by 525.9% during the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 852 shares in the last quarter. Retirement Wealth Solutions LLC bought a new stake in Bank of America during the fourth quarter worth about $42,000. Finally, Northwest Investment Counselors LLC bought a new stake in Bank of America during the third quarter worth about $45,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

Bank of America stock opened at $46.68 on Friday. The stock has a market cap of $358.19 billion, a price-to-earnings ratio of 14.50, a price-to-earnings-growth ratio of 1.27 and a beta of 1.33. 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 Co. has a 1 year low of $32.35 and a 1 year high of $48.08. The firm has a 50-day moving average of $45.85 and a two-hundred day moving average of $42.76.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate 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 business had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the previous year, the business posted $0.70 EPS. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, research analysts forecast that Bank of America Co. will post 3.67 earnings per share for the current year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.23%. Bank of America’s dividend payout ratio is currently 32.30%.

Analysts Set New Price Targets

BAC has been the topic of several research reports. Piper Sandler dropped their price objective on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Evercore ISI decreased 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 research report on Friday, January 17th. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target on the stock in a report on Friday, October 18th. Finally, Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.58.

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.