ORG Partners LLC Lowers Stock Position in Bank of America Co. (NYSE:BAC)

ORG Partners LLC reduced its holdings in shares of Bank of America Co. (NYSE:BAC) by 68.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,509 shares of the financial services provider’s stock after selling 7,790 shares during the period. ORG Partners LLC’s holdings in Bank of America were worth $118,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Schechter Investment Advisors LLC grew its position in Bank of America by 8.2% during the third quarter. Schechter Investment Advisors LLC now owns 55,348 shares of the financial services provider’s stock valued at $1,515,000 after acquiring an additional 4,187 shares during the last quarter. Eastern Bank grew its position in Bank of America by 354.5% during the third quarter. Eastern Bank now owns 119,713 shares of the financial services provider’s stock valued at $3,278,000 after acquiring an additional 93,375 shares during the last quarter. Stonebridge Capital Advisors LLC grew its position in Bank of America by 3.7% during the third quarter. Stonebridge Capital Advisors LLC now owns 65,495 shares of the financial services provider’s stock valued at $1,793,000 after acquiring an additional 2,332 shares during the last quarter. Kingswood Wealth Advisors LLC grew its position in Bank of America by 228.3% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 67,511 shares of the financial services provider’s stock valued at $2,273,000 after acquiring an additional 46,950 shares during the last quarter. Finally, Sarasin & Partners LLP bought a new position in Bank of America during the fourth quarter valued at approximately $673,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America Stock Performance

NYSE:BAC opened at $35.79 on Monday. 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 stock has a market cap of $282.41 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 1.63 and a beta of 1.39. The firm’s fifty day simple moving average is $35.42 and its 200 day simple moving average is $32.08. Bank of America Co. has a twelve month low of $24.96 and a twelve month high of $38.35.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $22 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.85 earnings per share. As a group, research analysts predict that Bank of America Co. will post 3.13 EPS for the current year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend was Thursday, February 29th. Bank of America’s dividend payout ratio is currently 31.27%.

Analyst Ratings Changes

Several research analysts have recently issued reports on BAC shares. Erste Group Bank upgraded shares of Bank of America from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. BMO Capital Markets cut 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. Keefe, Bruyette & Woods raised their target price 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. Wells Fargo & Company raised their target price on shares of Bank of America from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, 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, March 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Bank of America presently has a consensus rating of “Hold” and an average price target of $38.29.

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.