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

New Republic Capital LLC lowered its stake in shares of Bank of America Co. (NYSE:BAC) by 36.8% during the fourth quarter, Holdings Channel reports. The fund owned 10,831 shares of the financial services provider’s stock after selling 6,313 shares during the period. New Republic Capital LLC’s holdings in Bank of America were worth $476,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Collier Financial acquired a new position in shares of Bank of America during the fourth quarter worth about $25,000. Kennebec Savings Bank purchased a new stake in shares of Bank of America during the 3rd quarter worth $29,000. Highline Wealth Partners LLC grew its stake in shares of Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 510 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in Bank of America in the fourth quarter valued at $42,000. Finally, POM Investment Strategies LLC lifted its holdings in Bank of America by 1,306.5% during the 4th quarter. POM Investment Strategies LLC now owns 1,083 shares of the financial services provider’s stock worth $48,000 after buying an additional 1,006 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BAC. Oppenheimer raised their target price on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Morgan Stanley boosted their price objective on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and increased their target price for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Performance

Shares of BAC opened at $46.65 on Tuesday. The company’s 50 day simple moving average is $45.77 and its 200 day simple moving average is $42.93. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $357.91 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 1.29 and a beta of 1.33. Bank of America Co. has a 1 year low of $32.35 and a 1 year high of $48.08.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter in the previous year, the business earned $0.70 earnings per share. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, sell-side analysts predict that Bank of America Co. will post 3.69 EPS for the current year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio is currently 32.30%.

Bank of America 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.