Tempus Wealth Planning LLC Sells 392 Shares of Bank of America Co. (NYSE:BAC)

Tempus Wealth Planning LLC decreased its position in shares of Bank of America Co. (NYSE:BAC) by 1.2% in the 4th quarter, HoldingsChannel reports. The firm owned 31,340 shares of the financial services provider’s stock after selling 392 shares during the quarter. Tempus Wealth Planning LLC’s holdings in Bank of America were worth $1,377,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BAC. Czech National Bank boosted its position in shares of Bank of America by 6.0% during the third quarter. Czech National Bank now owns 1,375,216 shares of the financial services provider’s stock valued at $54,569,000 after buying an additional 78,376 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Bank of America by 14.5% during the third quarter. GAMMA Investing LLC now owns 94,287 shares of the financial services provider’s stock worth $3,741,000 after purchasing an additional 11,909 shares in the last quarter. WealthBridge Capital Management LLC increased its holdings in shares of Bank of America by 22.9% in the 3rd quarter. WealthBridge Capital Management LLC now owns 8,124 shares of the financial services provider’s stock worth $322,000 after buying an additional 1,515 shares during the last quarter. Diversified Trust Co raised its position in Bank of America by 34.8% during the third quarter. Diversified Trust Co now owns 162,072 shares of the financial services provider’s stock valued at $6,431,000 after purchasing an additional 41,877 shares in the last quarter. Finally, Smith Anglin Financial LLC lifted its position in Bank of America by 13.6% in the 3rd quarter. Smith Anglin Financial LLC now owns 13,007 shares of the financial services provider’s stock worth $516,000 after buying an additional 1,561 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BAC shares. Evercore ISI lowered their price target on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $46.00 to $54.00 in a report on Friday, November 8th. Piper Sandler dropped their price target on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Down 0.1 %

Shares of BAC opened at $46.23 on Tuesday. Bank of America Co. has a 52 week low of $32.35 and a 52 week high of $48.08. The firm has a market capitalization of $354.72 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.26 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The business’s fifty day moving average price is $45.83 and its two-hundred day moving average price is $42.77.

Bank of America (NYSE:BAC) last released 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. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company 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 firm posted $0.70 EPS. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, analysts predict that Bank of America Co. will post 3.67 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently announced 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. This represents a $1.04 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s payout ratio 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.