Brave Warrior Advisors LLC Sells 8,000 Shares of Bank of America Co. (NYSE:BAC)

Brave Warrior Advisors LLC reduced its position in Bank of America Co. (NYSE:BAC - Free Report) by 35.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,532 shares of the financial services provider's stock after selling 8,000 shares during the quarter. Bank of America makes up approximately 0.0% of Brave Warrior Advisors LLC's portfolio, making the stock its 20th biggest position. Brave Warrior Advisors LLC's holdings in Bank of America were worth $639,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Collier Financial acquired a new stake in shares of Bank of America during the 4th quarter worth about $25,000. Life Planning Partners Inc boosted its position in Bank of America by 3,883.2% during the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 545,936 shares during the period. Graney & King LLC acquired a new stake in shares of Bank of America in the fourth quarter valued at approximately $25,000. Fairway Wealth LLC bought a new stake in shares of Bank of America during the 4th quarter worth about $29,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in Bank of America during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 70.71% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on BAC shares. Baird R W upgraded shares of Bank of America from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. JPMorgan Chase & Co. reduced their target price on Bank of America from $49.50 to $43.50 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Robert W. Baird upgraded Bank of America from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $45.00 to $50.00 in a report on Friday, March 7th. Citigroup lowered their target price on shares of Bank of America from $54.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Finally, Morgan Stanley increased their target price on Bank of America from $54.00 to $56.00 and gave the stock an "equal weight" rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, Bank of America currently has an average rating of "Moderate Buy" and an average target price of $47.25.

Bank of America Price Performance

BAC traded up $0.11 on Wednesday, reaching $40.95. The company had a trading volume of 30,922,050 shares, compared to its average volume of 39,263,689. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $311.36 billion, a P/E ratio of 12.72, a PEG ratio of 1.21 and a beta of 1.27. The company has a fifty day moving average of $39.89 and a 200-day moving average of $43.50. Bank of America Co. has a one year low of $33.07 and a one year high of $48.08.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $27.37 billion during the quarter, compared to the consensus estimate of $26.83 billion. As a group, equities research analysts anticipate that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.04 dividend on an annualized basis and a yield of 2.54%. Bank of America's payout ratio is 30.95%.

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.