Warther Private Wealth LLC Has $528,000 Stock Holdings in Bank of America Co. (NYSE:BAC)

Warther Private Wealth LLC lessened its position in shares of Bank of America Co. (NYSE:BAC) by 63.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,019 shares of the financial services provider’s stock after selling 20,823 shares during the period. Warther Private Wealth LLC’s holdings in Bank of America were worth $528,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Collier Financial bought a new stake in Bank of America in the fourth quarter valued at approximately $25,000. Kennebec Savings Bank purchased a new position in Bank of America in the third quarter valued at approximately $29,000. Highline Wealth Partners LLC grew its stake in Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after buying an additional 510 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in Bank of America in the 4th quarter valued at $42,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Bank of America during the 3rd quarter worth $45,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Stock Performance

Shares of Bank of America stock opened at $46.80 on Wednesday. The stock has a market capitalization of $359.08 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 1.29 and a beta of 1.33. The firm has a fifty day moving average of $45.77 and a two-hundred day moving average of $42.96. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. Bank of America Co. has a 52 week low of $32.35 and a 52 week high of $48.08.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Bank of America’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS. As a group, equities research analysts predict that Bank of America Co. will post 3.69 EPS for the current year.

Bank of America Announces Dividend

The company also recently disclosed 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 dividend yield of 2.22%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is 32.30%.

Analysts Set New Price Targets

A number of brokerages recently commented on BAC. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Evercore ISI dropped their price objective on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Piper Sandler dropped their price objective on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Finally, Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $46.00 to $54.00 in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.