Bank of America Co. (NYSE:BAC) Shares Sold by Everhart Financial Group Inc.

Everhart Financial Group Inc. lowered its holdings in Bank of America Co. (NYSE:BAC) by 13.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 19,795 shares of the financial services provider’s stock after selling 2,983 shares during the quarter. Everhart Financial Group Inc.’s holdings in Bank of America were worth $667,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in BAC. Fort Sheridan Advisors LLC raised its position in shares of Bank of America by 0.8% in 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 during the period. Selective Wealth Management Inc. raised its position in shares of Bank of America by 2.0% in the 4th quarter. Selective Wealth Management Inc. now owns 17,351 shares of the financial services provider’s stock valued at $586,000 after acquiring an additional 334 shares during the period. Fort Point Capital Partners LLC raised 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 valued at $656,000 after acquiring an additional 336 shares during the period. Covestor Ltd raised its position in shares of Bank of America by 10.4% in the 2nd quarter. Covestor Ltd now owns 3,705 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 348 shares during the period. Finally, SRS Capital Advisors Inc. raised its position in shares of Bank of America by 3.5% in the 1st quarter. SRS Capital Advisors Inc. now owns 10,765 shares of the financial services provider’s stock valued at $308,000 after acquiring an additional 366 shares during the period. Institutional investors and hedge funds own 68.06% of the company’s stock.

Wall Street Analyst Weigh In

BAC has been the topic of several research analyst reports. BMO Capital Markets dropped their target price on shares of Bank of America from $37.00 to $36.00 and set a “market perform” rating on the stock in a report on Tuesday, January 16th. Citigroup raised their target price on shares of Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday. Oppenheimer dropped their target price on shares of Bank of America from $50.00 to $46.00 and set an “outperform” rating on the stock in a report on Tuesday, March 19th. Odeon Capital Group downgraded shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 target price on the stock. in a report on Tuesday, January 16th. Finally, The Goldman Sachs Group raised their target price on shares of Bank of America from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $35.65.

Check Out Our Latest Research Report on BAC

Insiders Place Their Bets

In other news, major shareholder Of America Corp /De/ Bank bought 5,398 shares of the company’s stock in a transaction dated Wednesday, December 27th. The stock was bought at an average price of $10.56 per share, with a total value of $57,002.88. Following the completion of the acquisition, the insider now owns 5,398 shares of the company’s stock, valued at $57,002.88. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.27% of the company’s stock.

Bank of America Price Performance

NYSE:BAC opened at $37.05 on Friday. Bank of America Co. has a 1-year low of $24.96 and a 1-year high of $37.61. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. The firm has a fifty day simple moving average of $34.17 and a 200 day simple moving average of $31.10. The stock has a market capitalization of $292.35 billion, a PE ratio of 12.07, a P/E/G ratio of 1.69 and a beta of 1.38.

Bank of America (NYSE:BACGet Free Report) last released 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. Bank of America had a net margin of 15.42% and a return on equity of 11.38%. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $23.70 billion. During the same period in the previous year, the business posted $0.85 earnings per share. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. On average, research analysts expect that Bank of America Co. will post 3.12 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 1st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.59%. Bank of America’s dividend payout ratio (DPR) is 31.27%.

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.

Further Reading

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

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