OneAscent Wealth Management LLC Sells 1,524 Shares of Bank of America Co. (NYSE:BAC)

OneAscent Wealth Management LLC lessened its holdings in Bank of America Co. (NYSE:BAC) by 7.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,937 shares of the financial services provider’s stock after selling 1,524 shares during the quarter. OneAscent Wealth Management LLC’s holdings in Bank of America were worth $788,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Collier Financial bought a new position in shares of Bank of America during the fourth quarter worth approximately $25,000. Life Planning Partners Inc increased its stake in Bank of America by 3,883.2% during the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 545,936 shares during the period. Graney & King LLC acquired a new position in Bank of America in the 4th quarter valued at $25,000. Fairway Wealth LLC bought a new stake in shares of Bank of America during the 4th quarter valued at $29,000. Finally, Highline Wealth Partners LLC grew 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 purchasing an additional 510 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Bank of America Stock Performance

NYSE:BAC opened at $41.24 on Friday. 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 fifty-two week low of $34.15 and a fifty-two week high of $48.08. The company has a 50 day simple moving average of $44.45 and a two-hundred day simple moving average of $43.86. The company has a market capitalization of $313.50 billion, a PE ratio of 12.81, a P/E/G ratio of 1.21 and a beta of 1.32.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. Bank of America’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 earnings per share. Research analysts anticipate that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were paid a dividend of $0.26 per share. The ex-dividend date was Friday, March 7th. This represents a $1.04 annualized dividend and a yield of 2.52%. Bank of America’s dividend payout ratio is currently 32.30%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BAC shares. Piper Sandler reduced 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. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Robert W. Baird upgraded Bank of America from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $45.00 to $50.00 in a research note on Friday, March 7th. Baird R W raised Bank of America from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Finally, Keefe, Bruyette & Woods raised their price objective on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.45.

About Bank of America

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.