Marino Stram & Associates LLC Has $614,000 Holdings in Bank of America Co. (NYSE:BAC)

Marino Stram & Associates LLC reduced its stake in shares of Bank of America Co. (NYSE:BAC) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,235 shares of the financial services provider’s stock after selling 640 shares during the quarter. Marino Stram & Associates LLC’s holdings in Bank of America were worth $614,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BAC. Fortis Group Advisors LLC acquired a new position in Bank of America during the 3rd quarter valued at $25,000. Glass Jacobson Investment Advisors llc raised its stake in Bank of America by 98.1% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 504 shares during the last quarter. Castleview Partners LLC acquired a new position in Bank of America during the 1st quarter valued at $28,000. Strategic Investment Solutions Inc. IL bought a new stake in Bank of America in the 1st quarter valued at $34,000. Finally, ZRC Wealth Management LLC increased its holdings in Bank of America by 192.3% in the 4th 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 period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Citigroup boosted their price target on shares of Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Morgan Stanley raised shares of Bank of America from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $32.00 to $41.00 in a report on Tuesday, January 30th. BMO Capital Markets lowered 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. Oppenheimer lowered 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. Finally, Barclays upped their target price on shares of Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Bank of America currently has an average rating of “Hold” and an average target price of $38.29.

Bank of America Trading Down 3.7 %

Bank of America stock traded down $1.32 during trading hours on Tuesday, reaching $34.63. 59,317,673 shares of the company’s stock traded hands, compared to its average volume of 40,661,395. The firm has a market capitalization of $273.25 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 1.63 and a beta of 1.39. The firm’s 50 day moving average is $35.48 and its 200-day moving average is $32.14. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80. 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 results on Friday, January 12th. The financial services provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $22 billion for 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%. Bank of America’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same period last year, the company posted $0.85 EPS. On average, analysts predict that Bank of America Co. will post 3.13 earnings per share for the current year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were given a $0.24 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.77%. Bank of America’s dividend payout ratio is 31.27%.

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.