Brandywine Oak Private Wealth LLC Has $323,000 Stock Position in Bank of America Co. (NYSE:BAC)

Brandywine Oak Private Wealth LLC cut its stake in shares of Bank of America Co. (NYSE:BAC) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,606 shares of the financial services provider’s stock after selling 1,450 shares during the period. Brandywine Oak Private Wealth LLC’s holdings in Bank of America were worth $323,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BAC. Fortis Group Advisors LLC acquired a new stake in shares of Bank of America during the third quarter worth $25,000. Glass Jacobson Investment Advisors llc grew its stake in shares of Bank of America by 98.1% during the third quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 504 shares during the period. Criterion Capital Advisors LLC acquired a new position in Bank of America in the fourth quarter valued at about $32,000. ZRC Wealth Management LLC grew its stake in 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 acquiring an additional 750 shares during the period. Finally, Private Ocean LLC grew its stake 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 acquiring an additional 325 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Trading Down 0.2 %

Shares of NYSE:BAC opened at $36.95 on Thursday. The company has a market capitalization of $291.56 billion, a P/E ratio of 12.79, a P/E/G ratio of 1.66 and a beta of 1.37. Bank of America Co. has a 1 year low of $24.96 and a 1 year high of $38.49. 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’s 50 day simple moving average is $36.33 and its 200 day simple moving average is $32.98.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The business had revenue of $25.82 billion for the quarter, compared to the consensus estimate of $25.49 billion. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.94 earnings per share. On average, research analysts anticipate that Bank of America Co. will post 3.19 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.60%. The ex-dividend date is Friday, June 7th. Bank of America’s payout ratio is presently 33.22%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BAC. Citigroup boosted their target price on Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Erste Group Bank upgraded Bank of America from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Wells Fargo & Company boosted their price target on Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. HSBC restated a “hold” rating and issued a $39.00 price target (up from $38.00) on shares of Bank of America in a report on Thursday, March 28th. Finally, UBS Group restated a “neutral” rating and issued a $40.00 price target (up from $39.00) on shares of Bank of America in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Bank of America has an average rating of “Hold” and a consensus target price of $38.70.

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.