Bank of America Co. (NYSE:BAC) Shares Sold by Intrust Bank NA

Intrust Bank NA decreased its position in shares of Bank of America Co. (NYSE:BAC) by 5.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,706 shares of the financial services provider’s stock after selling 9,022 shares during the period. Bank of America comprises 0.7% of Intrust Bank NA’s investment portfolio, making the stock its 28th biggest position. Intrust Bank NA’s holdings in Bank of America were worth $5,815,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BAC. Fortis Group Advisors LLC purchased a new position in shares of Bank of America in the 3rd quarter valued at about $25,000. Glass Jacobson Investment Advisors llc increased its holdings in shares of Bank of America by 98.1% in 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 acquiring an additional 504 shares during the last quarter. Criterion Capital Advisors LLC purchased a new position in shares of Bank of America in the 4th quarter valued at about $32,000. ZRC Wealth Management LLC grew its stake in Bank of America by 192.3% during the 4th quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock worth $38,000 after buying an additional 750 shares during the last quarter. Finally, Private Ocean LLC grew its stake in Bank of America by 34.0% during the 4th quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock worth $43,000 after buying an additional 325 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

BAC has been the topic of a number of research reports. Citigroup raised their price target on Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Oppenheimer reduced their price target on Bank of America from $46.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Wolfe Research raised Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a report on Friday, April 19th. Evercore ISI lifted their price objective on Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Odeon Capital Group downgraded Bank of America from a “buy” rating to a “hold” rating and set a $33.90 price target for the company. in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $38.53.

Bank of America Stock Down 0.7 %

Shares of NYSE:BAC traded down $0.28 during trading on Monday, hitting $37.55. The company’s stock had a trading volume of 26,434,319 shares, compared to its average volume of 41,179,297. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79. Bank of America Co. has a fifty-two week low of $24.96 and a fifty-two week high of $38.49. The stock’s 50-day moving average price is $36.13 and its two-hundred day moving average price is $32.80. The company has a market capitalization of $296.29 billion, a PE ratio of 13.06, a PEG ratio of 1.69 and a beta of 1.39.

Bank of America (NYSE:BAC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.77 by $0.06. The company had revenue of $25.82 billion during the quarter, compared to analyst estimates of $25.49 billion. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The business’s revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 earnings per share. As a group, sell-side analysts expect that Bank of America Co. will post 3.19 EPS for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.96 dividend on an annualized basis and a yield of 2.56%. Bank of America’s dividend payout ratio (DPR) is 33.22%.

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.