Richard W. Paul & Associates LLC Has $512,000 Stake in Bank of America Co. (NYSE:BAC)

Richard W. Paul & Associates LLC decreased its holdings in shares of Bank of America Co. (NYSE:BAC) by 31.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 15,213 shares of the financial services provider’s stock after selling 6,857 shares during the period. Richard W. Paul & Associates LLC’s holdings in Bank of America were worth $512,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BAC. Fortis Group Advisors LLC bought a new stake in Bank of America during the third quarter worth $25,000. Glass Jacobson Investment Advisors llc raised its position in Bank of America by 98.1% during the third quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 504 shares in the last quarter. Castleview Partners LLC bought a new stake in Bank of America during the first quarter worth $28,000. Strategic Investment Solutions Inc. IL bought a new stake in Bank of America during the first quarter worth $34,000. Finally, ZRC Wealth Management LLC raised its position in Bank of America by 192.3% during the fourth quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 750 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BAC. Barclays increased their price objective on shares of Bank of America from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Morgan Stanley raised shares of Bank of America from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $32.00 to $41.00 in a research report on Tuesday, January 30th. Wells Fargo & Company increased their price objective on shares of Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. HSBC reissued a “hold” rating and issued a $39.00 price objective (up from $38.00) on shares of Bank of America in a research report on Thursday, March 28th. Finally, BMO Capital Markets dropped 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 research report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $36.15.

Check Out Our Latest Stock Analysis on Bank of America

Bank of America Stock Performance

NYSE:BAC traded up $0.20 during mid-day trading on Wednesday, reaching $37.50. 20,022,207 shares of the company’s stock were exchanged, compared to its average volume of 40,579,211. Bank of America Co. has a one year low of $24.96 and a one year high of $38.35. The firm has a market capitalization of $295.90 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 1.73 and a beta of 1.39. The business’s fifty day simple moving average is $34.89 and its two-hundred day simple moving average is $31.57. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80.

Bank of America (NYSE:BACGet Free Report) last announced its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $23.70 billion. Bank of America had a net margin of 15.42% and a return on equity of 11.38%. The business’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.85 earnings per share. Analysts anticipate that Bank of America Co. will post 3.1 earnings per share for the current fiscal year.

Bank of America Announces Dividend

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

Bank of America Company 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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