Bank of America Co. (NYSE:BAC) Shares Sold by Black Maple Capital Management LP

Black Maple Capital Management LP trimmed its position in Bank of America Co. (NYSE:BAC - Free Report) by 47.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,500 shares of the financial services provider's stock after selling 6,900 shares during the period. Black Maple Capital Management LP's holdings in Bank of America were worth $330,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BAC. Graney & King LLC bought a new position in Bank of America in the fourth quarter worth approximately $25,000. Collier Financial bought a new position in Bank of America in the 4th quarter worth $25,000. Fairway Wealth LLC purchased a new position in Bank of America during the fourth quarter valued at $29,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Bank of America during the fourth quarter valued at about $31,000. Finally, Glass Jacobson Investment Advisors llc increased its position in Bank of America by 53.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider's stock worth $35,000 after buying an additional 276 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Bank of America Trading Up 0.1 %

BAC traded up $0.03 during trading on Monday, hitting $41.10. The company's stock had a trading volume of 32,819,712 shares, compared to its average volume of 39,252,015. Bank of America Co. has a twelve month low of $33.07 and a twelve month high of $48.08. The stock has a market cap of $312.47 billion, a PE ratio of 12.76, a PEG ratio of 1.21 and a beta of 1.27. The firm's 50 day moving average price is $39.95 and its 200-day moving average price is $43.52. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.

Bank of America (NYSE:BAC - Get Free Report) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.10. The firm had revenue of $27.37 billion for the quarter, compared to analysts' expectations of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. On average, analysts expect that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.53%. The ex-dividend date is Friday, June 6th. Bank of America's dividend payout ratio (DPR) is 30.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on BAC shares. HSBC raised Bank of America from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price target on shares of Bank of America from $49.50 to $43.50 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Phillip Securities upgraded shares of Bank of America from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, April 17th. 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 research note on Wednesday, April 16th. Finally, Cfra Research boosted their price objective on shares of Bank of America to $47.00 and gave the company a "buy" rating in a research 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. According to data from MarketBeat, Bank of America currently has an average rating of "Moderate Buy" and a consensus price target of $47.25.

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.