FAS Wealth Partners Inc. Sells 867 Shares of Bank of America Co. (NYSE:BAC)

FAS Wealth Partners Inc. trimmed its position in Bank of America Co. (NYSE:BACFree Report) by 1.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 71,287 shares of the financial services provider’s stock after selling 867 shares during the period. FAS Wealth Partners Inc.’s holdings in Bank of America were worth $2,400,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Fortis Group Advisors LLC bought a new position in shares of Bank of America during the 3rd quarter valued at approximately $25,000. Glass Jacobson Investment Advisors llc grew its position in shares of Bank of America by 98.1% during the 3rd 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 period. Castleview Partners LLC bought a new position in shares of Bank of America during the 1st quarter valued at approximately $28,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Bank of America during the 1st quarter valued at approximately $34,000. Finally, ZRC Wealth Management LLC grew 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 valued at $38,000 after acquiring an additional 750 shares during the period. 70.71% of the stock is owned by institutional investors.

Bank of America Stock Performance

NYSE BAC opened at $37.30 on Wednesday. Bank of America Co. has a 1 year low of $24.96 and a 1 year high of $38.35. 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 stock has a market capitalization of $294.32 billion, a PE ratio of 12.15, a P/E/G ratio of 1.73 and a beta of 1.39. The company’s 50 day simple moving average is $34.80 and its two-hundred day simple moving average is $31.51.

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

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.57%. The ex-dividend date was Thursday, February 29th. Bank of America’s dividend payout ratio (DPR) is currently 31.27%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Odeon Capital Group downgraded shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 target price for the company. in a research report on Tuesday, January 16th. Barclays upped their price target on shares of Bank of America from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Oppenheimer dropped their price target on shares of Bank of America from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 19th. HSBC restated a “hold” rating and set a $39.00 price target (up from $38.00) on shares of Bank of America in a research note on Thursday, March 28th. Finally, BMO Capital Markets dropped 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 note on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.15.

Read Our Latest Report 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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