Braun Stacey Associates Inc. Sells 3,725 Shares of Bank of America Co. (NYSE:BAC)

Braun Stacey Associates Inc. decreased its position in Bank of America Co. (NYSE:BAC) by 0.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 679,842 shares of the financial services provider’s stock after selling 3,725 shares during the period. Bank of America comprises approximately 1.1% of Braun Stacey Associates Inc.’s portfolio, making the stock its 25th biggest holding. Braun Stacey Associates Inc.’s holdings in Bank of America were worth $29,879,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Swedbank AB increased its holdings in Bank of America by 0.7% in the 3rd quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider’s stock worth $279,441,000 after acquiring an additional 50,849 shares in the last quarter. Net Worth Advisory Group acquired a new stake in Bank of America in the third quarter worth about $232,000. Chicago Capital LLC raised its position in Bank of America by 1.8% during the 3rd quarter. Chicago Capital LLC now owns 13,923 shares of the financial services provider’s stock worth $552,000 after buying an additional 250 shares during the last quarter. Resonant Capital Advisors LLC boosted its stake in shares of Bank of America by 2.8% during the 3rd quarter. Resonant Capital Advisors LLC now owns 17,438 shares of the financial services provider’s stock worth $692,000 after acquiring an additional 478 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC raised its holdings in shares of Bank of America by 20.8% during the third quarter. Cyndeo Wealth Partners LLC now owns 29,100 shares of the financial services provider’s stock valued at $1,155,000 after acquiring an additional 5,007 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of NYSE BAC opened at $46.98 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The stock has a market cap of $360.47 billion, a P/E ratio of 14.59, a P/E/G ratio of 1.29 and a beta of 1.33. The stock has a 50 day moving average of $45.75 and a two-hundred day moving average of $43.12. Bank of America Co. has a twelve month low of $32.49 and a twelve month high of $48.08.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. During the same quarter last year, the firm earned $0.70 earnings per share. The business’s revenue was up 15.0% on a year-over-year basis. On average, research analysts forecast that Bank of America Co. will post 3.69 earnings per share for the current year.

Bank of America Announces Dividend

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 issued a $0.26 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.21%. Bank of America’s dividend payout ratio is 32.30%.

Analyst Upgrades and Downgrades

BAC has been the subject of several research reports. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. Morgan Stanley boosted their price objective on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Evercore ISI cut their price objective on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Wells Fargo & Company boosted their price target on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.