Mutual of America Capital Management LLC Sells 31,606 Shares of Bank of America Co. (NYSE:BAC)

Mutual of America Capital Management LLC lowered its stake in shares of Bank of America Co. (NYSE:BAC) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 799,717 shares of the financial services provider’s stock after selling 31,606 shares during the quarter. Bank of America makes up approximately 0.4% of Mutual of America Capital Management LLC’s holdings, making the stock its 26th biggest holding. Mutual of America Capital Management LLC’s holdings in Bank of America were worth $35,148,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BAC. Flputnam Investment Management Co. boosted its stake in shares of Bank of America by 2.5% in the 4th quarter. Flputnam Investment Management Co. now owns 426,505 shares of the financial services provider’s stock valued at $18,745,000 after purchasing an additional 10,366 shares during the last quarter. Fortress Financial Group LLC bought a new position in shares of Bank of America in the 4th quarter valued at about $270,000. First American Bank boosted its stake in shares of Bank of America by 9.4% in the 4th quarter. First American Bank now owns 217,972 shares of the financial services provider’s stock valued at $9,580,000 after purchasing an additional 18,782 shares during the last quarter. Hosking Partners LLP boosted its stake in shares of Bank of America by 4.5% in the 4th quarter. Hosking Partners LLP now owns 1,657,244 shares of the financial services provider’s stock valued at $72,836,000 after purchasing an additional 72,122 shares during the last quarter. Finally, Argyle Capital Management LLC boosted its stake in shares of Bank of America by 2.4% in the 4th quarter. Argyle Capital Management LLC now owns 92,892 shares of the financial services provider’s stock valued at $4,083,000 after purchasing an additional 2,133 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Up 4.7 %

Shares of Bank of America stock opened at $46.19 on Friday. Bank of America Co. has a 1 year low of $34.03 and a 1 year high of $48.08. The firm has a market cap of $354.37 billion, a PE ratio of 14.34, a P/E/G ratio of 1.21 and a beta of 1.33. The stock has a fifty day moving average price of $45.78 and a 200-day moving average price of $43.56. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 EPS. Equities research analysts anticipate that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a yield of 2.25%. Bank of America’s dividend payout ratio is currently 32.30%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BAC. Oppenheimer lifted their price objective on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $46.00 to $54.00 in a research note on Friday, November 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently 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.