AFS Financial Group LLC Sells 49,117 Shares of Bank of America Co. (NYSE:BAC)

AFS Financial Group LLC lowered its holdings in Bank of America Co. (NYSE:BAC) by 59.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,105 shares of the financial services provider’s stock after selling 49,117 shares during the period. Bank of America makes up about 1.0% of AFS Financial Group LLC’s portfolio, making the stock its 15th largest holding. AFS Financial Group LLC’s holdings in Bank of America were worth $1,115,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BAC. Moneta Group Investment Advisors LLC raised its position in shares of Bank of America by 108,111.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 193,168,025 shares of the financial services provider’s stock valued at $6,397,725,000 after buying an additional 192,989,515 shares in the last quarter. Norges Bank acquired a new position in Bank of America during the 4th quarter worth approximately $3,436,543,000. Northern Trust Corp grew its holdings in Bank of America by 2.1% during the 3rd quarter. Northern Trust Corp now owns 67,648,727 shares of the financial services provider’s stock worth $1,852,222,000 after acquiring an additional 1,397,469 shares during the last quarter. Barclays PLC grew its holdings in Bank of America by 97.3% during the 3rd quarter. Barclays PLC now owns 41,290,694 shares of the financial services provider’s stock worth $1,130,538,000 after acquiring an additional 20,362,295 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Bank of America by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 40,518,019 shares of the financial services provider’s stock worth $1,109,383,000 after acquiring an additional 746,756 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

NYSE:BAC traded up $0.24 on Wednesday, reaching $37.54. 10,540,102 shares of the company’s stock were exchanged, compared to its average volume of 40,425,855. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $296.21 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 1.73 and a beta of 1.39. Bank of America Co. has a 52 week low of $24.96 and a 52 week high of $38.35. The stock has a fifty day simple moving average of $34.89 and a 200-day simple moving average of $31.57.

Bank of America (NYSE:BACGet Free Report) last issued its earnings results on Friday, January 12th. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $22 billion during the quarter, compared to analyst estimates of $23.70 billion. Bank of America had a net margin of 15.42% and a return on equity of 11.38%. The company’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter last year, the business earned $0.85 earnings per share. As a group, sell-side analysts predict that Bank of America Co. will post 3.1 earnings per share for the current year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were given a $0.24 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.56%. Bank of America’s dividend payout ratio (DPR) is currently 31.27%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Odeon Capital Group lowered shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 price objective on the stock. in a research note on Tuesday, January 16th. Oppenheimer lowered their price objective on shares of Bank of America from $50.00 to $46.00 and set an “outperform” rating on the stock in a report on Tuesday, March 19th. Barclays upped their price objective on shares of Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Wells Fargo & Company upped their price objective on shares of Bank of America from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, BMO Capital Markets lowered their price objective on shares of Bank of America from $37.00 to $36.00 and set a “market perform” rating on the stock in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and an average target price of $36.15.

Check Out Our Latest Report on Bank of America

Bank of America Profile

(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.

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Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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