Bank of America Co. (NYSE:BAC) Shares Sold by Dakota Wealth Management

Dakota Wealth Management lessened its holdings in shares of Bank of America Co. (NYSE:BAC) by 3.4% during the fourth quarter, HoldingsChannel reports. The fund owned 187,937 shares of the financial services provider’s stock after selling 6,567 shares during the period. Dakota Wealth Management’s holdings in Bank of America were worth $6,328,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Fort Sheridan Advisors LLC grew its holdings in Bank of America by 0.8% in the fourth quarter. Fort Sheridan Advisors LLC now owns 39,526 shares of the financial services provider’s stock valued at $1,309,000 after purchasing an additional 303 shares during the last quarter. Regent Peak Wealth Advisors LLC grew its holdings in Bank of America by 3.2% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 9,976 shares of the financial services provider’s stock valued at $336,000 after purchasing an additional 314 shares during the last quarter. Kennedy Investment Group grew its holdings in Bank of America by 0.6% in the fourth quarter. Kennedy Investment Group now owns 58,007 shares of the financial services provider’s stock valued at $1,953,000 after purchasing an additional 321 shares during the last quarter. Private Ocean LLC grew its holdings in Bank of America by 34.0% in the fourth quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 325 shares during the last quarter. Finally, Selective Wealth Management Inc. grew its holdings in Bank of America by 2.0% in the fourth quarter. Selective Wealth Management Inc. now owns 17,351 shares of the financial services provider’s stock valued at $586,000 after purchasing an additional 334 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of NYSE BAC opened at $35.95 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. Bank of America Co. has a fifty-two week low of $24.96 and a fifty-two week high of $38.35. The business has a 50 day moving average price of $35.48 and a two-hundred day moving average price of $32.14. The firm has a market cap of $283.67 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 1.63 and a beta of 1.39.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.70 earnings per share 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 business’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. Sell-side analysts expect that Bank of America Co. will post 3.13 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Thursday, February 29th. Bank of America’s payout ratio is currently 31.27%.

Analysts Set New Price Targets

BAC has been the topic of several research reports. Evercore ISI upped their target price on Bank of America from $37.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. UBS Group reissued a “neutral” rating and issued a $40.00 target price (up previously from $39.00) on shares of Bank of America in a report on Thursday, April 4th. Barclays upped their target price on Bank of America from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Wells Fargo & Company upped their price objective on Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Finally, Jefferies Financial Group upped their price objective on Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a research report on Monday, April 8th. One investment 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 has a consensus rating of “Hold” and an average target price of $38.29.

Bank of America 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.