apricus wealth LLC Sells 7,430 Shares of Bank of America Co. (NYSE:BAC)

apricus wealth LLC trimmed its position in shares of Bank of America Co. (NYSE:BAC - Free Report) by 7.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 87,180 shares of the financial services provider's stock after selling 7,430 shares during the quarter. Bank of America comprises about 2.2% of apricus wealth LLC's holdings, making the stock its 8th biggest holding. apricus wealth LLC's holdings in Bank of America were worth $3,638,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Simon Quick Advisors LLC lifted its position in Bank of America by 11.8% during the first quarter. Simon Quick Advisors LLC now owns 445,157 shares of the financial services provider's stock valued at $18,576,000 after purchasing an additional 47,036 shares during the period. Baker Ellis Asset Management LLC lifted its holdings in shares of Bank of America by 11.9% in the 1st quarter. Baker Ellis Asset Management LLC now owns 16,235 shares of the financial services provider's stock valued at $677,000 after acquiring an additional 1,730 shares during the last quarter. Skyline Advisors Inc. grew its position in Bank of America by 1.5% in the first quarter. Skyline Advisors Inc. now owns 21,337 shares of the financial services provider's stock worth $890,000 after acquiring an additional 315 shares in the last quarter. Alpha Omega Wealth Management LLC boosted its holdings in shares of Bank of America by 18.0% in the 1st quarter. Alpha Omega Wealth Management LLC now owns 29,716 shares of the financial services provider's stock worth $1,240,000 after purchasing an additional 4,540 shares during the period. Finally, EdgeRock Capital LLC raised its holdings in Bank of America by 4.8% during the 1st quarter. EdgeRock Capital LLC now owns 6,465 shares of the financial services provider's stock valued at $270,000 after buying an additional 296 shares during the period. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BAC has been the topic of several recent analyst reports. Royal Bank of Canada reduced 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. Argus lowered their price objective on shares of Bank of America from $53.00 to $47.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Wall Street Zen cut Bank of America from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. UBS Group raised their target price on shares of Bank of America from $46.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Finally, Cowen assumed coverage on shares of Bank of America in a report on Wednesday, May 14th. They issued a "buy" rating for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Bank of America presently has an average rating of "Moderate Buy" and an average target price of $47.69.

Bank of America Price Performance

Shares of NYSE:BAC traded down $0.65 during trading on Friday, hitting $43.97. 30,201,860 shares of the stock were exchanged, compared to its average volume of 39,709,061. The company has a market cap of $331.18 billion, a PE ratio of 13.67, a P/E/G ratio of 1.21 and a beta of 1.30. 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 fifty day moving average price of $41.32 and a two-hundred day moving average price of $43.44. Bank of America Co. has a 12-month low of $33.07 and a 12-month high of $48.08.

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

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America's dividend payout ratio is presently 30.95%.

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.