Mutual of America Capital Management LLC Sells 46,073 Shares of Bank of America Co. (NYSE:BAC)

Mutual of America Capital Management LLC reduced its position in shares of Bank of America Co. (NYSE:BAC) by 4.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 921,495 shares of the financial services provider’s stock after selling 46,073 shares during the period. Mutual of America Capital Management LLC’s holdings in Bank of America were worth $31,027,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BAC. Financial Counselors Inc. raised its stake in shares of Bank of America by 0.5% in the fourth quarter. Financial Counselors Inc. now owns 82,937 shares of the financial services provider’s stock worth $2,792,000 after acquiring an additional 383 shares during the last quarter. Capital Square LLC bought a new position in shares of Bank of America during the fourth quarter worth $732,000. Aaron Wealth Advisors LLC increased its holdings in shares of Bank of America by 7.0% in the fourth quarter. Aaron Wealth Advisors LLC now owns 27,304 shares of the financial services provider’s stock worth $919,000 after acquiring an additional 1,776 shares in the last quarter. Aspiriant LLC lifted its stake in Bank of America by 1.1% in the fourth quarter. Aspiriant LLC now owns 46,404 shares of the financial services provider’s stock valued at $1,562,000 after buying an additional 495 shares in the last quarter. Finally, GW Henssler & Associates Ltd. boosted its stake in Bank of America by 8.0% in the 4th quarter. GW Henssler & Associates Ltd. now owns 8,515 shares of the financial services provider’s stock worth $287,000 after purchasing an additional 629 shares during the period. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Down 0.8 %

Shares of NYSE BAC opened at $36.35 on Friday. Bank of America Co. has a one year low of $24.96 and a one year high of $38.35. The business’s fifty day moving average price is $35.37 and its 200-day moving average price is $31.95. The stock has a market capitalization of $286.82 billion, a PE ratio of 11.84, a P/E/G ratio of 1.67 and a beta of 1.39. 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 announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Bank of America had a return on equity of 11.38% and a net margin of 15.42%. The firm had revenue of $22 billion for the quarter, compared to analysts’ expectations of $23.70 billion. During the same period in the prior year, the business posted $0.85 earnings per share. The company’s revenue was down 10.2% on a year-over-year basis. On average, equities research analysts anticipate that Bank of America Co. will post 3.13 EPS for the current year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were given a dividend of $0.24 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.64%. Bank of America’s dividend payout ratio (DPR) is presently 31.27%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. UBS Group reaffirmed a “neutral” rating and issued a $40.00 target price (up previously from $39.00) on shares of Bank of America in a research report on Thursday, April 4th. BMO Capital Markets decreased their target price on Bank of America from $37.00 to $36.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 16th. Oppenheimer cut their price target on Bank of America from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 19th. Jefferies Financial Group lifted their target price on Bank of America from $36.00 to $39.00 and gave the stock a “hold” rating in a report on Monday. Finally, Evercore ISI boosted their target price on shares of Bank of America from $37.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $38.29.

Get Our Latest Stock Report on BAC

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. It operates in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

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

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