HFG Advisors Inc. Has $261,000 Stock Position in Bank of America Co. (NYSE:BAC)

HFG Advisors Inc. trimmed its position in Bank of America Co. (NYSE:BAC) by 15.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,880 shares of the financial services provider’s stock after selling 1,234 shares during the quarter. HFG Advisors Inc.’s holdings in Bank of America were worth $261,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BAC. BKM Wealth Management LLC grew its position in shares of Bank of America by 30.1% during the 1st quarter. BKM Wealth Management LLC now owns 5,243 shares of the financial services provider’s stock worth $199,000 after buying an additional 1,213 shares during the period. Diversified Trust Co grew its position in shares of Bank of America by 18.3% during the 1st quarter. Diversified Trust Co now owns 168,915 shares of the financial services provider’s stock worth $6,405,000 after buying an additional 26,145 shares during the period. Aviance Capital Partners LLC grew its position in shares of Bank of America by 55.0% during the 1st quarter. Aviance Capital Partners LLC now owns 22,770 shares of the financial services provider’s stock worth $863,000 after buying an additional 8,076 shares during the period. LVW Advisors LLC grew its position in shares of Bank of America by 19.9% during the 1st quarter. LVW Advisors LLC now owns 42,303 shares of the financial services provider’s stock worth $1,604,000 after buying an additional 7,034 shares during the period. Finally, Citizens Business Bank lifted its holdings in shares of Bank of America by 4.4% during the 1st quarter. Citizens Business Bank now owns 77,314 shares of the financial services provider’s stock valued at $2,932,000 after purchasing an additional 3,234 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Stock Up 0.4 %

Shares of Bank of America stock traded up $0.14 on Monday, reaching $39.91. 15,410,274 shares of the company were exchanged, compared to its average volume of 38,778,586. Bank of America Co. has a one year low of $24.96 and a one year high of $40.34. The company has a market capitalization of $312.11 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 1.52 and a beta of 1.35. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12. The company has a 50-day moving average of $38.91 and a 200 day moving average of $36.12.

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 (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $25.49 billion. During the same quarter in the prior year, the business posted $0.94 EPS. The business’s revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts forecast that Bank of America Co. will post 3.22 earnings per share for the current year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Friday, June 7th. Bank of America’s dividend payout ratio is currently 33.22%.

Analyst Ratings Changes

Several research firms have recently weighed in on BAC. BMO Capital Markets lifted their price objective on Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. HSBC reiterated a “hold” rating and set a $39.00 price objective (up previously from $38.00) on shares of Bank of America in a report on Thursday, March 28th. StockNews.com cut Bank of America from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Evercore ISI lifted their price objective on Bank of America from $37.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Finally, UBS Group reiterated a “neutral” rating and set a $40.00 price objective (up previously from $39.00) on shares of Bank of America in a report on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Bank of America currently has a consensus rating of “Hold” and an average target price of $39.79.

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.