Guyasuta Investment Advisors Inc. Sells 386,144 Shares of Bank of America Co. (NYSE:BAC)

Guyasuta Investment Advisors Inc. decreased its position in Bank of America Co. (NYSE:BAC) by 96.3% during the 4th quarter, Holdings Channel reports. The firm owned 14,859 shares of the financial services provider’s stock after selling 386,144 shares during the period. Guyasuta Investment Advisors Inc.’s holdings in Bank of America were worth $500,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Northern Trust Corp lifted its stake in Bank of America by 2.1% in the third 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 period. Barclays PLC lifted its stake in Bank of America by 97.3% in the third 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 period. Charles Schwab Investment Management Inc. lifted its stake in Bank of America by 1.9% in the third 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 period. California Public Employees Retirement System lifted its stake in Bank of America by 5.9% in the fourth quarter. California Public Employees Retirement System now owns 22,538,500 shares of the financial services provider’s stock worth $758,871,000 after acquiring an additional 1,250,096 shares during the period. Finally, Pzena Investment Management LLC lifted its stake in Bank of America by 28.7% in the third quarter. Pzena Investment Management LLC now owns 19,430,142 shares of the financial services provider’s stock worth $531,997,000 after acquiring an additional 4,335,882 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

BAC has been the subject of several recent research reports. Wells Fargo & Company raised their price objective on 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 set a $39.00 price objective (up previously from $38.00) on shares of Bank of America in a research report on Thursday, March 28th. Citigroup raised their price objective on Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Erste Group Bank raised Bank of America from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Finally, Keefe, Bruyette & Woods raised their price objective on Bank of America from $33.00 to $37.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Bank of America has a consensus rating of “Hold” and a consensus price target of $38.59.

Bank of America Price Performance

NYSE BAC opened at $37.56 on Tuesday. Bank of America Co. has a one year low of $24.96 and a one year high of $38.49. The stock has a 50-day moving average of $36.20 and a 200 day moving average of $32.88. The company has a market capitalization of $296.37 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.69 and a beta of 1.39. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.77 by $0.06. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The company had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $25.49 billion. During the same period last year, the company earned $0.94 EPS. Bank of America’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, sell-side analysts forecast that Bank of America Co. will post 3.19 EPS for the current year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.96 annualized dividend and a yield of 2.56%. Bank of America’s payout ratio is 33.22%.

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.