S.A. Mason LLC Sells 12,789 Shares of Bank of America Co. (NYSE:BAC)

S.A. Mason LLC reduced its stake in Bank of America Co. (NYSE:BAC) by 43.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 16,759 shares of the financial services provider’s stock after selling 12,789 shares during the period. S.A. Mason LLC’s holdings in Bank of America were worth $564,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Columbia Trust Co 01012016 grew its holdings in shares of Bank of America by 18.0% during the 4th quarter. Columbia Trust Co 01012016 now owns 70,339 shares of the financial services provider’s stock worth $2,368,000 after acquiring an additional 10,745 shares during the period. Family Legacy Inc. raised its holdings in Bank of America by 1.0% in the fourth quarter. Family Legacy Inc. now owns 55,844 shares of the financial services provider’s stock worth $1,880,000 after purchasing an additional 543 shares in the last quarter. Patriot Investment Management Group Inc. bought a new position in Bank of America in the fourth quarter worth $220,000. Gemmer Asset Management LLC boosted its holdings in shares of Bank of America by 9.6% during the 4th quarter. Gemmer Asset Management LLC now owns 14,063 shares of the financial services provider’s stock valued at $474,000 after buying an additional 1,226 shares in the last quarter. Finally, Viking Fund Management LLC grew its position in shares of Bank of America by 15.0% in the 4th quarter. Viking Fund Management LLC now owns 230,000 shares of the financial services provider’s stock worth $7,744,000 after buying an additional 30,000 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Bank of America from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, December 1st. Odeon Capital Group lowered shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 target price for the company. in a report on Tuesday, January 16th. Barclays upped their price target on Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Morgan Stanley raised Bank of America from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $32.00 to $41.00 in a research report on Tuesday, January 30th. Finally, Citigroup boosted their target price on Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.65.

Read Our Latest Stock Report on BAC

Bank of America Stock Performance

Shares of NYSE BAC opened at $37.83 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. The firm’s 50-day moving average price is $34.35 and its 200-day moving average price is $31.26. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $37.85. The company has a market cap of $298.50 billion, a PE ratio of 12.32, a PEG ratio of 1.70 and a beta of 1.38.

Bank of America (NYSE:BACGet Free Report) last posted its earnings results 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 business had revenue of $22 billion during the quarter, compared to the consensus estimate of $23.70 billion. Bank of America had a net margin of 15.42% and a return on equity of 11.38%. The firm’s revenue was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 EPS. As a group, analysts anticipate that Bank of America Co. will post 3.11 EPS for the current year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 1st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Thursday, February 29th. Bank of America’s dividend payout ratio (DPR) is presently 31.27%.

Bank of America Company 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.

See Also

Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Co. (NYSE:BACFree Report).

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

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