Financial Advisors LLC Has $271,000 Holdings in Bank of America Co. (NYSE:BAC)

Financial Advisors LLC decreased its position in Bank of America Co. (NYSE:BAC) by 4.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,061 shares of the financial services provider’s stock after selling 345 shares during the period. Financial Advisors LLC’s holdings in Bank of America were worth $271,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Strategic Blueprint LLC raised its position in shares of Bank of America by 13.0% during the third quarter. Strategic Blueprint LLC now owns 15,050 shares of the financial services provider’s stock worth $412,000 after purchasing an additional 1,737 shares during the period. Sunesis Advisors LLC purchased a new position in Bank of America during the third quarter worth about $1,169,000. Ascent Wealth Partners LLC increased its stake in Bank of America by 5.7% in the 3rd quarter. Ascent Wealth Partners LLC now owns 16,088 shares of the financial services provider’s stock valued at $440,000 after buying an additional 869 shares during the last quarter. Index Fund Advisors Inc. bought a new stake in Bank of America during the third quarter worth $203,000. Finally, Ellsworth Advisors LLC grew its stake in Bank of America by 36.6% in the 3rd quarter. Ellsworth Advisors LLC now owns 31,990 shares of the financial services provider’s stock valued at $862,000 after purchasing an additional 8,571 shares during the period. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of NYSE BAC traded down $0.08 during trading on Friday, reaching $37.83. 28,668,680 shares of the company traded hands, compared to its average volume of 40,953,860. 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 firm has a 50 day simple moving average of $36.13 and a 200-day simple moving average of $32.76. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $38.49. The stock has a market capitalization of $298.50 billion, a PE ratio of 13.09, a P/E/G ratio of 1.69 and a beta of 1.39.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The business had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $25.49 billion. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 EPS. Equities research analysts anticipate that Bank of America Co. will post 3.19 earnings per share for the current year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Friday, June 7th. Bank of America’s payout ratio is 33.22%.

Analyst Upgrades and Downgrades

BAC has been the topic of a number of recent analyst reports. Odeon Capital Group cut Bank of America from a “buy” rating to a “hold” rating and set a $33.90 target price on the stock. in a research note on Tuesday, January 16th. Erste Group Bank upgraded shares of Bank of America from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Oppenheimer decreased their price target on shares of Bank of America from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods lifted their price target on shares of Bank of America from $33.00 to $37.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Finally, Barclays increased their price objective on Bank of America from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $38.53.

About Bank of America

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.