Sigma Planning Corp Has $1.87 Million Stake in Bank of America Co. (NYSE:BAC)

Sigma Planning Corp trimmed its holdings in Bank of America Co. (NYSE:BAC) by 56.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,430 shares of the financial services provider’s stock after selling 72,202 shares during the period. Sigma Planning Corp’s holdings in Bank of America were worth $1,866,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Fortis Group Advisors LLC acquired a new stake in shares of Bank of America in the third quarter valued at approximately $25,000. Criterion Capital Advisors LLC acquired a new stake in shares of Bank of America in the fourth quarter valued at approximately $32,000. Castleview Partners LLC acquired a new stake in shares of Bank of America in the first quarter valued at approximately $28,000. Glass Jacobson Investment Advisors llc lifted its position in shares of Bank of America by 98.1% in the third quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock valued at $28,000 after buying an additional 504 shares during the last quarter. Finally, ZRC Wealth Management LLC lifted its position in shares of Bank of America by 192.3% in the fourth quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock valued at $38,000 after buying an additional 750 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Price Performance

Shares of NYSE BAC opened at $37.18 on Monday. The stock has a market capitalization of $293.37 billion, a PE ratio of 12.79, a P/E/G ratio of 1.66 and a beta of 1.39. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79. The business has a fifty day moving average price of $35.68 and a two-hundred day moving average price of $32.40. Bank of America Co. has a fifty-two week low of $24.96 and a fifty-two week high of $38.35.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.06. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The firm had revenue of $25.82 billion during the quarter, compared to analysts’ expectations of $25.49 billion. During the same period in the previous year, the firm earned $0.94 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, equities analysts predict that Bank of America Co. will post 3.17 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were paid a $0.24 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.58%. Bank of America’s payout ratio is 33.22%.

Analyst Ratings Changes

Several research firms recently weighed in on BAC. BMO Capital Markets lifted their price target on Bank of America from $36.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday. Barclays lifted their price target on Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Erste Group Bank raised Bank of America from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Jefferies Financial Group lifted their price target on Bank of America from $36.00 to $39.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Finally, Evercore ISI lifted their price target on Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $38.53.

Bank of America Company Profile

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.