Bank of America Co. (NYSE:BAC) Shares Sold by Community Bank & Trust Waco Texas

Community Bank & Trust Waco Texas lowered its stake in shares of Bank of America Co. (NYSE:BAC) by 22.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,055 shares of the financial services provider’s stock after selling 9,505 shares during the period. Community Bank & Trust Waco Texas’ holdings in Bank of America were worth $1,079,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BAC. Schechter Investment Advisors LLC grew its stake in Bank of America by 8.2% during the 3rd quarter. Schechter Investment Advisors LLC now owns 55,348 shares of the financial services provider’s stock valued at $1,515,000 after purchasing an additional 4,187 shares in the last quarter. Eastern Bank raised its stake in shares of Bank of America by 354.5% in the 3rd quarter. Eastern Bank now owns 119,713 shares of the financial services provider’s stock worth $3,278,000 after buying an additional 93,375 shares in the last quarter. Stonebridge Capital Advisors LLC grew its holdings in shares of Bank of America by 3.7% in the 3rd quarter. Stonebridge Capital Advisors LLC now owns 65,495 shares of the financial services provider’s stock worth $1,793,000 after acquiring an additional 2,332 shares during the last quarter. Kingswood Wealth Advisors LLC grew its holdings in shares of Bank of America by 228.3% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 67,511 shares of the financial services provider’s stock valued at $2,273,000 after buying an additional 46,950 shares in the last quarter. Finally, Sarasin & Partners LLP purchased a new position in Bank of America in the fourth quarter valued at about $673,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BAC shares. HSBC reiterated a “hold” rating and issued a $39.00 price objective (up from $38.00) on shares of Bank of America in a research note on Thursday, March 28th. Citigroup boosted their price target on Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Evercore ISI upped their target price on Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Wolfe Research upgraded Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a report on Friday, April 19th. Finally, Barclays raised their price target on shares of Bank of America from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $38.53.

Bank of America Price Performance

Shares of BAC stock traded down $0.15 during trading on Wednesday, hitting $38.22. The company had a trading volume of 12,204,747 shares, compared to its average volume of 41,389,520. Bank of America Co. has a one year low of $24.96 and a one year high of $38.50. The firm has a market capitalization of $301.58 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 1.70 and a beta of 1.39. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79. The stock’s 50-day moving average price is $35.88 and its 200 day moving average price is $32.57.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The company had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $25.49 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The business’s revenue was down 1.7% on a year-over-year basis. Equities analysts expect that Bank of America Co. will post 3.17 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.51%. Bank of America’s payout ratio is currently 33.22%.

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.