Bank of America Co. (NYSE:BAC) Shares Sold by Wagner Wealth Management LLC

Wagner Wealth Management LLC decreased its holdings in shares of Bank of America Co. (NYSE:BACFree Report) by 51.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,223 shares of the financial services provider’s stock after selling 7,781 shares during the quarter. Wagner Wealth Management LLC’s holdings in Bank of America were worth $243,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC purchased a new stake in Bank of America in the 3rd quarter valued at about $25,000. Glass Jacobson Investment Advisors llc increased its position in shares of Bank of America by 98.1% during the third quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 504 shares during the last quarter. Castleview Partners LLC purchased a new stake in shares of Bank of America in the 1st quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Bank of America in the 1st quarter worth approximately $34,000. Finally, ZRC Wealth Management LLC boosted its position in shares of Bank of America by 192.3% during the 4th quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 750 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

NYSE:BAC opened at $37.92 on Friday. Bank of America Co. has a 12 month low of $24.96 and a 12 month high of $38.00. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $299.21 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 1.75 and a beta of 1.38. The business’s fifty day moving average price is $34.70 and its 200 day moving average price is $31.42.

Bank of America (NYSE:BACGet Free Report) last released its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $22 billion for the quarter, compared to the consensus estimate of $23.70 billion. Bank of America had a return on equity of 11.38% and a net margin of 15.42%. The business’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 EPS. On average, sell-side analysts anticipate that Bank of America Co. will post 3.1 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.53%. The ex-dividend date was Thursday, February 29th. Bank of America’s payout ratio is 31.27%.

Analysts Set New Price Targets

A number of brokerages have issued reports on BAC. Odeon Capital Group lowered Bank of America from a “buy” rating to a “hold” rating and set a $33.90 target price on the stock. in a research report on Tuesday, January 16th. Barclays increased their target price on Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Citigroup lifted their target price on Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. BMO Capital Markets reduced their price target on shares of Bank of America from $37.00 to $36.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 16th. Finally, Oppenheimer dropped their price objective on shares of Bank of America from $50.00 to $46.00 and set an “outperform” rating for the company in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.15.

Check Out Our Latest Analysis on Bank of America

Bank of America Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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