Intrinsic Value Partners LLC Lowers Stock Holdings in Bank of America Co. (NYSE:BAC)

Intrinsic Value Partners LLC trimmed its stake in Bank of America Co. (NYSE:BAC) by 1.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,111 shares of the financial services provider’s stock after selling 252 shares during the period. Intrinsic Value Partners LLC’s holdings in Bank of America were worth $664,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BAC. Collier Financial purchased a new stake in Bank of America in the 4th quarter valued at about $25,000. Life Planning Partners Inc raised its holdings in shares of Bank of America by 3,883.2% in the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 545,936 shares in the last quarter. Kennebec Savings Bank bought a new stake in shares of Bank of America in the 3rd quarter valued at about $29,000. Highline Wealth Partners LLC raised its holdings in shares of Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 510 shares in the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Bank of America in the 4th quarter valued at about $42,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BAC has been the subject of several recent research reports. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their price target for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Barclays boosted their price objective on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Evercore ISI reduced their price objective 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. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. Finally, Oppenheimer boosted 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. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Stock Performance

NYSE:BAC opened at $46.98 on Friday. 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 fifty day moving average of $45.75 and a two-hundred day moving average of $43.05. The stock has a market capitalization of $360.47 billion, a PE ratio of 14.59, a P/E/G ratio of 1.29 and a beta of 1.33. Bank of America Co. has a fifty-two week low of $32.49 and a fifty-two week high of $48.08.

Bank of America (NYSE:BAC) last issued its earnings results 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. The business had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 earnings per share. As a group, research analysts forecast that Bank of America Co. will post 3.69 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is 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.