Siemens Fonds Invest GmbH Sells 206,604 Shares of Bank of America Co. (NYSE:BAC)

Siemens Fonds Invest GmbH lowered its holdings in Bank of America Co. (NYSE:BAC - Free Report) by 94.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,618 shares of the financial services provider's stock after selling 206,604 shares during the period. Siemens Fonds Invest GmbH's holdings in Bank of America were worth $555,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BAC. Collier Financial bought a new stake in shares of Bank of America during the fourth quarter valued at approximately $25,000. Life Planning Partners Inc raised its holdings in shares of Bank of America by 3,883.2% during the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider's stock valued at $25,000 after buying an additional 545,936 shares during the last quarter. Graney & King LLC bought a new stake in shares of Bank of America during the fourth quarter valued at approximately $25,000. Fairway Wealth LLC bought a new stake in shares of Bank of America during the fourth quarter valued at approximately $29,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in Bank of America during the fourth quarter worth approximately $31,000. Institutional investors own 70.71% of the company's stock.

Bank of America Stock Down 0.3%

Shares of BAC stock traded down $0.15 on Tuesday, hitting $44.62. The company's stock had a trading volume of 33,349,026 shares, compared to its average volume of 39,700,974. 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 Co. has a fifty-two week low of $33.07 and a fifty-two week high of $48.08. The firm's fifty day moving average price is $40.13 and its 200-day moving average price is $43.59. The stock has a market capitalization of $336.07 billion, a price-to-earnings ratio of 13.86, a P/E/G ratio of 1.21 and a beta of 1.27.

Bank of America (NYSE:BAC - Get Free Report) last released its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. The firm had revenue of $27.37 billion during 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%. Research analysts anticipate that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders 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 annualized dividend and a dividend yield of 2.33%. Bank of America's payout ratio is 30.95%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BAC shares. JPMorgan Chase & Co. dropped their target price on Bank of America from $49.50 to $43.50 and set an "overweight" rating on the stock 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. Evercore ISI decreased their price target on shares of Bank of America from $51.00 to $48.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. Cowen initiated coverage on shares of Bank of America in a research report on Wednesday, May 14th. They issued a "buy" rating on the stock. Finally, UBS Group lifted their price target on shares of Bank of America from $46.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Bank of America has a consensus rating of "Moderate Buy" and a consensus price target of $47.50.

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.