Altrius Capital Management Inc Sells 3,010 Shares of Bank of America Co. (NYSE:BAC)

Altrius Capital Management Inc reduced its position in shares of Bank of America Co. (NYSE:BAC) by 2.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 118,791 shares of the financial services provider’s stock after selling 3,010 shares during the quarter. Altrius Capital Management Inc’s holdings in Bank of America were worth $5,221,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BAC. Collier Financial purchased a new position in Bank of America in the 4th quarter worth approximately $25,000. Kennebec Savings Bank bought a new stake in shares of Bank of America in the third quarter worth approximately $29,000. Highline Wealth Partners LLC boosted 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 worth $37,000 after purchasing an additional 510 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in Bank of America in the 4th quarter worth approximately $42,000. Finally, POM Investment Strategies LLC raised its stake in Bank of America by 1,306.5% during the 4th quarter. POM Investment Strategies LLC now owns 1,083 shares of the financial services provider’s stock valued at $48,000 after buying an additional 1,006 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company upped their price target on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Oppenheimer boosted their price objective on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Evercore ISI cut their price objective on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Finally, Keefe, Bruyette & Woods increased their price target on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Up 0.5 %

Shares of NYSE BAC opened at $44.17 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $338.87 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.21 and a beta of 1.33. Bank of America Co. has a 12-month low of $34.03 and a 12-month high of $48.08. The stock’s fifty day simple moving average is $45.74 and its two-hundred day simple moving average is $43.50.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter in the previous year, the firm earned $0.70 EPS. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, analysts expect that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.35%. Bank of America’s payout ratio is 32.30%.

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.