Semus Wealth Partners LLC Reduces Position in Bank of America Co. (NYSE:BAC)

Semus Wealth Partners LLC reduced its stake in Bank of America Co. (NYSE:BAC) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,013 shares of the financial services provider’s stock after selling 267 shares during the quarter. Semus Wealth Partners LLC’s holdings in Bank of America were worth $484,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Collier Financial purchased a new position in Bank of America in the 4th quarter valued at about $25,000. Life Planning Partners Inc raised its position in shares of Bank of America by 3,883.2% in the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after buying an additional 545,936 shares during the last quarter. Kennebec Savings Bank purchased a new position in shares of Bank of America during the third quarter valued at approximately $29,000. Highline Wealth Partners LLC boosted its position 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 during the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new stake in Bank of America in the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Oppenheimer increased their price target on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and increased their target price for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Piper Sandler lowered their price target on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Morgan Stanley increased their price objective on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Finally, Barclays boosted their price objective on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Performance

Shares of BAC stock opened at $46.46 on Wednesday. The company’s fifty day moving average price is $45.79 and its two-hundred day moving average price is $43.23. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $356.51 billion, a P/E ratio of 14.43, a P/E/G ratio of 1.27 and a beta of 1.33. Bank of America Co. has a 12 month low of $33.17 and a 12 month high of $48.08.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter in the prior year, the business posted $0.70 earnings per share. Bank of America’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, research analysts anticipate that Bank of America Co. will post 3.69 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.24%. Bank of America’s dividend payout ratio (DPR) is 32.30%.

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.