Ancora Advisors LLC decreased its position in Bank of America Co. (NYSE:BAC - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 802,812 shares of the financial services provider's stock after selling 19,838 shares during the quarter. Bank of America accounts for approximately 0.8% of Ancora Advisors LLC's portfolio, making the stock its 29th largest position. Ancora Advisors LLC's holdings in Bank of America were worth $35,284,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in BAC. Graney & King LLC purchased a new position in Bank of America in the 4th quarter valued at approximately $25,000. Collier Financial purchased a new position in Bank of America in the fourth quarter valued at $25,000. Fairway Wealth LLC acquired a new position in Bank of America during the 4th quarter worth $29,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Bank of America during the 4th quarter worth about $31,000. Finally, Glass Jacobson Investment Advisors llc raised its position in Bank of America by 53.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 276 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
BAC has been the topic of a number of recent research reports. Royal Bank of Canada cut their target price on shares of Bank of America from $50.00 to $45.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. Hsbc Global Res raised shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. HSBC raised shares of Bank of America from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a research report on Tuesday, January 7th. Phillip Securities raised Bank of America from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, April 17th. Finally, Barclays decreased their price target on Bank of America from $58.00 to $54.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $47.25.
Check Out Our Latest Research Report on Bank of America
Bank of America Stock Performance
NYSE:BAC traded up $0.91 during midday trading on Friday, reaching $41.08. The stock had a trading volume of 41,601,768 shares, compared to its average volume of 39,277,820. The stock has a market cap of $312.32 billion, a P/E ratio of 12.76, a P/E/G ratio of 1.21 and a beta of 1.27. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 12-month low of $33.07 and a 12-month high of $48.08. The firm has a fifty day simple moving average of $40.01 and a two-hundred day simple moving average of $43.53.
Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. The business had revenue of $27.37 billion for the quarter, compared to analyst estimates of $26.83 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. On average, equities analysts expect that Bank of America Co. will post 3.7 EPS for the current year.
Bank of America Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be issued a $0.26 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.53%. Bank of America's dividend payout ratio is currently 30.95%.
About Bank of America
(
Free Report)
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.
Further Reading
Before you consider Bank of America, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bank of America wasn't on the list.
While Bank of America currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
