Americana Partners LLC Sells 5,032 Shares of Bank of America Co. (NYSE:BAC)

Americana Partners LLC reduced its position in shares of Bank of America Co. (NYSE:BAC) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 116,104 shares of the financial services provider’s stock after selling 5,032 shares during the period. Americana Partners LLC’s holdings in Bank of America were worth $5,103,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BAC. Swedbank AB boosted its holdings in shares of Bank of America by 0.7% during the 3rd quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider’s stock worth $279,441,000 after buying an additional 50,849 shares during the period. Net Worth Advisory Group bought a new stake in shares of Bank of America during the 3rd quarter worth $232,000. Chicago Capital LLC boosted its holdings in shares of 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 period. Alta Wealth Advisors LLC acquired a new position in Bank of America during the 3rd quarter valued at $227,000. Finally, Spectrum Financial Alliance Ltd LLC raised its stake in Bank of America by 0.8% during the 3rd quarter. Spectrum Financial Alliance Ltd LLC now owns 1,146,884 shares of the financial services provider’s stock valued at $45,508,000 after purchasing an additional 9,531 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Bank of America Stock Up 1.4 %

BAC opened at $46.98 on Monday. The firm’s 50-day simple moving average is $45.75 and its 200-day simple moving average is $43.10. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. Bank of America Co. has a twelve month low of $32.49 and a twelve month high of $48.08. The firm has a market cap of $360.47 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 1.29 and a beta of 1.33.

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

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio is currently 32.30%.

Analysts Set New Price Targets

Several equities analysts recently commented on BAC shares. Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods upped their target price 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. Wells Fargo & Company upped their target price on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Oppenheimer upped their target price on shares of Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Evercore ISI cut their target price on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat, 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.