Live Oak Private Wealth LLC Sells 9,193 Shares of Bank of America Co. (NYSE:BAC)

Live Oak Private Wealth LLC lessened its position in shares of Bank of America Co. (NYSE:BAC) by 2.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 373,654 shares of the financial services provider’s stock after selling 9,193 shares during the quarter. Bank of America makes up about 2.8% of Live Oak Private Wealth LLC’s holdings, making the stock its 5th largest position. Live Oak Private Wealth LLC’s holdings in Bank of America were worth $16,422,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Hoxton Planning & Management LLC raised its position in shares of Bank of America by 6.7% in the third quarter. Hoxton Planning & Management LLC now owns 6,427 shares of the financial services provider’s stock valued at $255,000 after buying an additional 402 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in Bank of America by 22.6% in the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 9,564 shares of the financial services provider’s stock worth $380,000 after acquiring an additional 1,761 shares during the period. Daymark Wealth Partners LLC raised its holdings in Bank of America by 10.2% in the 3rd quarter. Daymark Wealth Partners LLC now owns 55,528 shares of the financial services provider’s stock valued at $2,203,000 after acquiring an additional 5,152 shares during the last quarter. Abner Herrman & Brock LLC lifted its stake in shares of Bank of America by 4.5% during the 3rd quarter. Abner Herrman & Brock LLC now owns 396,662 shares of the financial services provider’s stock worth $15,740,000 after purchasing an additional 16,909 shares during the period. Finally, Hexagon Capital Partners LLC boosted its holdings in shares of Bank of America by 6.3% during the third quarter. Hexagon Capital Partners LLC now owns 59,056 shares of the financial services provider’s stock worth $2,343,000 after purchasing an additional 3,503 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Stock Performance

Bank of America stock opened at $47.74 on Friday. Bank of America Co. has a 12-month low of $32.35 and a 12-month high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $366.33 billion, a price-to-earnings ratio of 14.83, a price-to-earnings-growth ratio of 1.26 and a beta of 1.33. The firm’s fifty day moving average price is $45.78 and its 200 day moving average price is $42.85.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 earnings per share. On average, research analysts forecast that Bank of America Co. will post 3.67 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is currently 32.30%.

Analysts Set New Price Targets

Several equities analysts recently commented on BAC shares. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $54.00 in a report on Friday, November 8th. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target on the stock in a research note on Friday, October 18th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and an average target price of $48.58.

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.