Bank of America Co. (NYSE:BAC) Shares Sold by Sepio Capital LP

Sepio Capital LP reduced its position in Bank of America Co. (NYSE:BACFree Report) by 5.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,092 shares of the financial services provider’s stock after selling 2,400 shares during the quarter. Sepio Capital LP’s holdings in Bank of America were worth $1,070,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BAC. Fort Sheridan Advisors LLC raised its position in shares of Bank of America by 0.8% during the 4th quarter. Fort Sheridan Advisors LLC now owns 39,526 shares of the financial services provider’s stock valued at $1,309,000 after acquiring an additional 303 shares in the last quarter. Horizon Wealth Management LLC increased its stake in Bank of America by 1.1% during the second quarter. Horizon Wealth Management LLC now owns 28,347 shares of the financial services provider’s stock valued at $813,000 after purchasing an additional 318 shares during the last quarter. BHK Investment Advisors LLC raised its holdings in shares of Bank of America by 2.4% during the second quarter. BHK Investment Advisors LLC now owns 14,140 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 333 shares during the period. Fort Point Capital Partners LLC lifted its position in shares of Bank of America by 2.2% in the 1st quarter. Fort Point Capital Partners LLC now owns 15,918 shares of the financial services provider’s stock worth $656,000 after buying an additional 336 shares during the last quarter. Finally, Greenwich Wealth Management LLC boosted its holdings in shares of Bank of America by 1.3% in the 2nd quarter. Greenwich Wealth Management LLC now owns 27,309 shares of the financial services provider’s stock valued at $784,000 after buying an additional 345 shares during the period. Institutional investors and hedge funds own 68.06% of the company’s stock.

Analyst Ratings Changes

BAC has been the topic of several research reports. Morgan Stanley upgraded shares of Bank of America from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $32.00 to $41.00 in a research note on Tuesday, January 30th. Oppenheimer raised their price target on Bank of America from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. BMO Capital Markets lowered their price objective on Bank of America from $37.00 to $36.00 and set a “market perform” rating for the company in a research note on Tuesday, January 16th. Keefe, Bruyette & Woods raised Bank of America from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $29.00 to $30.00 in a research report on Monday, November 6th. Finally, Odeon Capital Group downgraded shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 price target for the company. in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.53.

Get Our Latest Report on BAC

Bank of America Trading Down 1.4 %

Bank of America stock opened at $32.99 on Tuesday. Bank of America Co. has a 12-month low of $24.96 and a 12-month high of $37.00. The stock has a market capitalization of $261.03 billion, a PE ratio of 10.74, a price-to-earnings-growth ratio of 1.52 and a beta of 1.39. The firm has a 50 day simple moving average of $32.72 and a 200-day simple moving average of $30.08. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80.

Bank of America (NYSE:BACGet Free Report) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $22 billion for the quarter, compared to the consensus estimate of $23.70 billion. Bank of America had a return on equity of 11.38% and a net margin of 15.42%. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.85 EPS. As a group, equities research analysts expect that Bank of America Co. will post 3.14 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.91%. Bank of America’s dividend payout ratio is currently 31.27%.

Insider Buying and Selling

In other Bank of America news, major shareholder Of America Corp /De/ Bank purchased 5,398 shares of the firm’s stock in a transaction on Wednesday, December 27th. The shares were purchased at an average price of $10.56 per share, for a total transaction of $57,002.88. Following the completion of the transaction, the insider now owns 5,398 shares in the company, valued at approximately $57,002.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.27% of the company’s stock.

Bank of America Profile

(Free Report)

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. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans.

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Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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