Bank of America Co. (NYSE:BAC) Shares Sold by Savant Capital LLC

Savant Capital LLC cut its holdings in Bank of America Co. (NYSE:BAC) by 3.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 207,232 shares of the financial services provider’s stock after selling 8,046 shares during the period. Savant Capital LLC’s holdings in Bank of America were worth $6,978,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BAC. Regent Peak Wealth Advisors LLC raised its stake in Bank of America by 3.2% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 9,976 shares of the financial services provider’s stock valued at $336,000 after buying an additional 314 shares during the period. Kennedy Investment Group boosted its holdings in shares of Bank of America by 0.6% in the 4th quarter. Kennedy Investment Group now owns 58,007 shares of the financial services provider’s stock valued at $1,953,000 after purchasing an additional 321 shares in the last quarter. Private Ocean LLC boosted its holdings in shares of Bank of America by 34.0% in the 4th quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 325 shares in the last quarter. Selective Wealth Management Inc. lifted its stake in shares of Bank of America by 2.0% in the 4th quarter. Selective Wealth Management Inc. now owns 17,351 shares of the financial services provider’s stock valued at $586,000 after acquiring an additional 334 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC lifted its stake in shares of Bank of America by 4.0% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 8,770 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 338 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Price Performance

BAC stock opened at $37.31 on Wednesday. Bank of America Co. has a 12 month low of $24.96 and a 12 month high of $38.49. The company has a 50-day moving average price of $36.26 and a 200 day moving average price of $32.95. The stock has a market cap of $294.40 billion, a PE ratio of 12.80, a P/E/G ratio of 1.68 and a beta of 1.39. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The company had revenue of $25.82 billion during the quarter, compared to analyst estimates of $25.49 billion. During the same quarter last year, the business posted $0.94 EPS. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities research analysts anticipate that Bank of America Co. will post 3.19 earnings per share for the current year.

Bank of America Dividend Announcement

The business 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 dividend of $0.24 per share. The ex-dividend date is Friday, June 7th. This represents a $0.96 dividend on an annualized basis and a yield of 2.57%. Bank of America’s payout ratio is 33.22%.

Wall Street Analysts Forecast Growth

BAC has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their target price on Bank of America from $33.00 to $37.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Wolfe Research upgraded Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research note on Friday, April 19th. HSBC reiterated a “hold” rating and set a $39.00 price target (up previously from $38.00) on shares of Bank of America in a research note on Thursday, March 28th. UBS Group reiterated a “neutral” rating and set a $40.00 price target (up previously from $39.00) on shares of Bank of America in a research note on Thursday, April 4th. Finally, Morgan Stanley raised shares of Bank of America from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $32.00 to $41.00 in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Bank of America presently has a consensus rating of “Hold” and a consensus target price of $38.59.

Bank of America Company Profile

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.