Encompass Wealth Advisors LLC Sells 10,052 Shares of Bank of America Co. (NYSE:BAC)

Encompass Wealth Advisors LLC lessened its holdings in shares of Bank of America Co. (NYSE:BAC) by 66.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,164 shares of the financial services provider’s stock after selling 10,052 shares during the period. Encompass Wealth Advisors LLC’s holdings in Bank of America were worth $227,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Bank of America by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock valued at $5,546,871,000 after acquiring an additional 1,700,141 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Bank of America by 4.0% in the third quarter. Fisher Asset Management LLC now owns 45,215,832 shares of the financial services provider’s stock valued at $1,794,164,000 after purchasing an additional 1,731,003 shares during the last quarter. Sanders Capital LLC lifted its position in shares of Bank of America by 2.8% in the third quarter. Sanders Capital LLC now owns 22,341,213 shares of the financial services provider’s stock worth $886,499,000 after purchasing an additional 601,211 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in Bank of America by 0.4% during the third quarter. Diamond Hill Capital Management Inc. now owns 17,042,952 shares of the financial services provider’s stock worth $676,264,000 after purchasing an additional 59,853 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Bank of America by 3.8% in the third quarter. Principal Financial Group Inc. now owns 15,415,630 shares of the financial services provider’s stock valued at $611,692,000 after purchasing an additional 569,385 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

BAC stock opened at $47.74 on Friday. The company’s 50-day moving average price is $45.78 and its two-hundred day moving average price is $42.85. Bank of America Co. has a 12 month low of $32.35 and a 12 month high of $48.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm has a market cap of $366.33 billion, a P/E ratio of 14.83, a P/E/G ratio of 1.26 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced its quarterly earnings data 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. 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%. The company’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 earnings per share. On average, analysts anticipate that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.18%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BAC. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price target on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Truist Financial increased their price objective on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, Evercore ISI dropped 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

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.