B. Metzler seel. Sohn & Co. AG Sells 119,199 Shares of Bank of America Co. (NYSE:BAC)

B. Metzler seel. Sohn & Co. AG cut its holdings in Bank of America Co. (NYSE:BAC) by 20.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 473,546 shares of the financial services provider’s stock after selling 119,199 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in Bank of America were worth $20,808,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Bank of America during the 4th quarter valued at about $5,226,989,000. Amundi boosted its holdings in shares of Bank of America by 37.1% in the 4th quarter. Amundi now owns 37,819,980 shares of the financial services provider’s stock valued at $1,747,658,000 after buying an additional 10,231,001 shares in the last quarter. Two Sigma Advisers LP grew its holdings in Bank of America by 31,021.6% in the third quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider’s stock worth $405,049,000 after purchasing an additional 10,175,100 shares during the last quarter. Swedbank AB boosted its holdings in Bank of America by 81.4% in the fourth quarter. Swedbank AB now owns 12,776,184 shares of the financial services provider’s stock worth $561,513,000 after acquiring an additional 5,733,810 shares in the last quarter. Finally, KBC Group NV boosted its stake in Bank of America by 130.9% in the 4th quarter. KBC Group NV now owns 9,692,279 shares of the financial services provider’s stock worth $425,976,000 after purchasing an additional 5,493,817 shares in the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities 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 report on Friday, January 17th. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and increased their target price for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Truist Financial raised their target price on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, Keefe, Bruyette & Woods raised their target price on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Bank of America has a consensus rating of “Moderate Buy” and an average target price of $48.45.

Bank of America Trading Down 3.1 %

Shares of BAC opened at $41.24 on Monday. Bank of America Co. has a 52-week low of $34.15 and a 52-week high of $48.08. 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 stock has a fifty day moving average price of $44.45 and a two-hundred day moving average price of $43.93. The company has a market cap of $313.50 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 1.21 and a beta of 1.32.

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 analysts’ consensus estimates 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 return on equity of 10.29% and a net margin of 14.10%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.70 earnings per share. Analysts predict that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Friday, March 7th. Bank of America’s dividend payout ratio is presently 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.