Moody Lynn & Lieberson LLC Sells 2,322 Shares of Bank of America Corporation (NYSE:BAC)

by · The Cerbat Gem

Moody Lynn & Lieberson LLC decreased its stake in Bank of America Corporation (NYSE:BAC) by 8.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,912 shares of the financial services provider’s stock after selling 2,322 shares during the period. Moody Lynn & Lieberson LLC’s holdings in Bank of America were worth $1,040,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of BAC. Graney & King LLC acquired a new stake in shares of Bank of America in the fourth quarter valued at about $25,000. Fairway Wealth LLC acquired a new position in shares of Bank of America during the 4th quarter valued at $29,000. Vega Investment Solutions bought a new position in shares of Bank of America during the 4th quarter worth about $30,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Bank of America in the fourth quarter valued at approximately $31,000. Finally, Spurstone Advisory Services LLC acquired a new stake in Bank of America in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Trading Up 1.8%

NYSE BAC opened at $48.15 on Wednesday. The firm has a market cap of $362.66 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 1.29 and a beta of 1.30. Bank of America Corporation has a 1-year low of $33.07 and a 1-year high of $48.53. The stock has a 50-day moving average of $43.71 and a 200-day moving average of $43.36. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 1.11.

Bank of America (NYSE:BAC – Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. The business had revenue of $27.37 billion for the quarter, compared to analyst estimates of $26.83 billion. Bank of America had a net margin of 14.56% and a return on equity of 10.25%. As a group, sell-side analysts forecast that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 6th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Friday, June 6th. Bank of America’s dividend payout ratio (DPR) is currently 30.95%.

Analyst Ratings Changes

Several analysts have recently commented on the company. The Goldman Sachs Group increased their price objective on Bank of America from $46.00 to $52.00 and gave the stock a “buy” rating in a research note on Tuesday, June 10th. Cowen began coverage on shares of Bank of America in a research note on Wednesday, May 14th. They issued a “buy” rating on the stock. UBS Group increased their price target on Bank of America from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, April 16th. Robert W. Baird reiterated a “neutral” rating and set a $52.00 price objective on shares of Bank of America in a research note on Friday, June 27th. Finally, Argus decreased their price target on shares of Bank of America from $53.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $47.65.

View Our Latest Research Report on BAC

About Bank of America

(Free Report)

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.

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