Maia Wealth LLC Has $764,000 Position in Bank of America Corporation $BAC

Maia Wealth LLC lessened its holdings in Bank of America Corporation (NYSE:BAC) by 6.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,156 shares of the financial services provider’s stock after selling 1,178 shares during the period. Maia Wealth LLC’s holdings in Bank of America were worth $764,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its holdings in shares of 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 worth $4,785,000 after buying an additional 25,143 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of Bank of America by 108.9% during the first quarter. Meeder Asset Management Inc. now owns 3,483 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 1,816 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of Bank of America in the first quarter valued at approximately $166,000. Cozad Asset Management Inc. increased its stake in shares of Bank of America by 4.7% during the first quarter. Cozad Asset Management Inc. now owns 11,234 shares of the financial services provider’s stock worth $469,000 after purchasing an additional 500 shares during the period. Finally, Harvest Fund Management Co. Ltd lifted its holdings in Bank of America by 8.8% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 35,831 shares of the financial services provider’s stock worth $1,496,000 after purchasing an additional 2,906 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BAC has been the topic of a number of research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $58.00 price objective (up from $57.00) on shares of Bank of America in a report on Thursday, October 16th. Robert W. Baird upped their price target on shares of Bank of America from $52.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Oppenheimer lowered their price target on shares of 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. Wall Street Zen raised shares of Bank of America from a “sell” rating to a “hold” rating in a report on Sunday, October 19th. Finally, Citigroup raised their target price on shares of Bank of America from $58.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Twenty-three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $57.77.

Bank of America Stock Up 1.0%

BAC stock opened at $53.01 on Thursday. Bank of America Corporation has a 52 week low of $33.06 and a 52 week high of $54.69. The business has a 50-day simple moving average of $51.85 and a 200 day simple moving average of $48.66. 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 $387.07 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.99 and a beta of 1.34.

Bank of America (NYSE:BAC) last released its earnings results on Wednesday, October 15th. The financial services provider reported $1.06 EPS for the quarter, beating the consensus estimate of $0.93 by $0.13. The firm 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%. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $0.81 EPS. Sell-side analysts anticipate that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, December 5th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, December 5th. Bank of America’s 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.