Bank of America Corporation $BAC Stock Position Lessened by Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P.

Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. reduced its stake in shares of Bank of America Corporation (NYSE:BAC) by 38.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 235,585 shares of the financial services provider’s stock after selling 148,055 shares during the quarter. Bank of America comprises about 1.9% of Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P.’s investment portfolio, making the stock its 13th largest holding. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P.’s holdings in Bank of America were worth $11,148,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Brighton Jones LLC boosted its stake in Bank of America by 30.0% during the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider’s stock valued at $4,785,000 after purchasing an additional 25,143 shares in the last quarter. Trivium Point Advisory LLC lifted its holdings in Bank of America by 5.2% in the 1st quarter. Trivium Point Advisory LLC now owns 39,270 shares of the financial services provider’s stock valued at $1,639,000 after acquiring an additional 1,949 shares during the last quarter. Providence Capital Advisors LLC boosted its position in shares of Bank of America by 2.1% during the 1st quarter. Providence Capital Advisors LLC now owns 259,938 shares of the financial services provider’s stock valued at $10,847,000 after purchasing an additional 5,296 shares in the last quarter. Horizon Investments LLC grew its stake in shares of Bank of America by 2.3% in the 1st quarter. Horizon Investments LLC now owns 128,506 shares of the financial services provider’s stock worth $5,363,000 after purchasing an additional 2,942 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Bank of America by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 31,956,699 shares of the financial services provider’s stock worth $1,333,351,000 after purchasing an additional 188,638 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analysts Set New Price Targets

BAC has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Bank of America from $55.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Barclays boosted their target price on shares of Bank of America from $54.00 to $59.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Oppenheimer dropped their price target on Bank of America from $57.00 to $55.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. Royal Bank Of Canada raised their price objective on Bank of America from $56.00 to $59.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Truist Financial lifted their target price on shares of Bank of America from $51.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Twenty-three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.86.

Bank of America Stock Performance

Shares of NYSE BAC opened at $55.14 on Friday. Bank of America Corporation has a 12 month low of $33.06 and a 12 month high of $55.30. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The company has a market cap of $402.66 billion, a P/E ratio of 15.02 and a beta of 1.30. The business’s 50 day moving average is $52.39 and its two-hundred day moving average is $49.45.

Bank of America (NYSE:BAC) last announced its earnings results on Wednesday, October 15th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.13. The business had revenue of $5.35 billion for the quarter, compared to analyst estimates of $27.05 billion. Bank of America had a net margin of 15.70% and a return on equity of 10.76%. Bank of America’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.81 earnings per share. On average, equities analysts expect that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, December 5th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.0%. Bank of America’s dividend payout ratio is currently 30.52%.

Bank of America Company 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.