Bank of America Co. (NYSE:BAC) Holdings Boosted by Moody National Bank Trust Division

Moody National Bank Trust Division grew its holdings in Bank of America Co. (NYSE:BAC – Get Rating) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,809 shares of the financial services provider’s stock after purchasing an additional 1,229 shares during the period. Moody National Bank Trust Division’s holdings in Bank of America were worth $4,630,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its stake in Bank of America by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 602,457,736 shares of the financial services provider’s stock valued at $18,194,222,000 after buying an additional 3,313,229 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Bank of America by 60.0% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 103,645,596 shares of the financial services provider’s stock valued at $3,130,177,000 after buying an additional 38,870,780 shares during the period. Legal & General Group Plc increased its stake in shares of Bank of America by 2.9% in the second quarter. Legal & General Group Plc now owns 52,475,574 shares of the financial services provider’s stock worth $1,633,568,000 after acquiring an additional 1,493,089 shares during the last quarter. Dodge & Cox raised its holdings in shares of Bank of America by 3.5% during the second quarter. Dodge & Cox now owns 44,434,589 shares of the financial services provider’s stock worth $1,383,249,000 after acquiring an additional 1,511,600 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Bank of America by 1.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 36,940,776 shares of the financial services provider’s stock valued at $1,522,699,000 after purchasing an additional 603,512 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Bank of America Stock Performance

Shares of BAC traded down $1.15 during mid-day trading on Friday, hitting $27.82. The company’s stock had a trading volume of 130,665,529 shares, compared to its average volume of 51,705,035. The stock’s 50-day moving average is $34.02 and its two-hundred day moving average is $34.07. The firm has a market capitalization of $222.67 billion, a PE ratio of 8.72, a price-to-earnings-growth ratio of 1.21 and a beta of 1.40. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.77 and a current ratio of 0.78. Bank of America Co. has a one year low of $27.62 and a one year high of $44.63.

Bank of America (NYSE:BAC – Get Rating) last released its earnings results on Friday, January 13th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.76 by $0.09. The firm had revenue of $24.50 billion during the quarter, compared to analysts’ expectations of $24.17 billion. Bank of America had a net margin of 23.93% and a return on equity of 11.41%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 EPS. As a group, sell-side analysts anticipate that Bank of America Co. will post 3.38 EPS for the current year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 3rd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date is Thursday, March 2nd. Bank of America’s dividend payout ratio (DPR) is presently 27.59%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Odeon Capital Group lowered Bank of America from a “buy” rating to a “hold” rating and set a $35.20 target price on the stock. in a research report on Wednesday, March 8th. Citigroup raised their price objective on shares of Bank of America from $36.00 to $38.00 in a research report on Tuesday, January 17th. Barclays cut their price target on shares of Bank of America from $51.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday, January 3rd. Piper Sandler cut shares of Bank of America from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $36.00 to $33.00 in a report on Tuesday, January 17th. Finally, StockNews.com initiated coverage on Bank of America in a report on Thursday. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $40.16.

Insider Activity at Bank of America

In other Bank of America news, insider Matthew M. Koder sold 214,745 shares of the firm’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $35.91, for a total value of $7,711,492.95. Following the completion of the sale, the insider now owns 214,747 shares in the company, valued at approximately $7,711,564.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Matthew M. Koder sold 214,745 shares of the firm’s stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $35.91, for a total value of $7,711,492.95. Following the completion of the transaction, the insider now directly owns 214,747 shares of the company’s stock, valued at $7,711,564.77. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Matthew M. Koder sold 105,054 shares of the business’s stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $34.27, for a total transaction of $3,600,200.58. Following the completion of the sale, the insider now directly owns 319,803 shares in the company, valued at approximately $10,959,648.81. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

About Bank of America

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Bank of America Corp. is a bank and financial holding company, which engages in the provision of banking and nonbank financial services. It operates through the following segments: Consumer Banking, Global Wealth and Investment Management, Global Banking, Global Markets, and All Other. The Consumer Banking segment offers credit, banking, and investment products and services to consumers and small businesses.