Bank of America Co. (NYSE:BAC) Shares Sold by BLB&B Advisors LLC

BLB&B Advisors LLC reduced its stake in shares of Bank of America Co. (NYSE:BAC) by 5.4% in the 4th quarter, Holdings Channel reports. The fund owned 25,223 shares of the financial services provider’s stock after selling 1,452 shares during the period. BLB&B Advisors LLC’s holdings in Bank of America were worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Kennebec Savings Bank acquired a new position in shares of Bank of America in the 3rd quarter valued at $29,000. Highline Wealth Partners LLC increased its holdings in Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after buying an additional 510 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Bank of America in the fourth quarter worth about $42,000. Christopher J. Hasenberg Inc boosted its stake in shares of Bank of America by 525.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 852 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Bank of America during the 3rd quarter valued at about $45,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BAC has been the topic of a number of recent analyst reports. Barclays increased their price target on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Morgan Stanley increased their target price on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Evercore ISI cut their price target on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Down 0.7 %

NYSE BAC opened at $47.43 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 52 week low of $32.35 and a 52 week high of $48.08. The business’s fifty day simple moving average is $45.77 and its 200-day simple moving average is $42.88. The firm has a market cap of $363.89 billion, a PE ratio of 14.73, a P/E/G ratio of 1.26 and a beta of 1.33.

Bank of America (NYSE:BAC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. Bank of America’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.70 EPS. As a group, equities analysts anticipate 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. The ex-dividend date is Friday, March 7th. This represents a $1.04 annualized dividend and a yield of 2.19%. Bank of America’s dividend payout ratio (DPR) 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.