Bank of America Co. (NYSE:BAC) Shares Sold by NBT Bank N A NY

NBT Bank N A NY trimmed its holdings in shares of Bank of America Co. (NYSE:BAC) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,859 shares of the financial services provider’s stock after selling 4,491 shares during the period. NBT Bank N A NY’s holdings in Bank of America were worth $2,982,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BAC. Geode Capital Management LLC boosted its stake in shares of Bank of America by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock worth $5,546,871,000 after acquiring an additional 1,700,141 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Bank of America by 4.9% during the fourth quarter. Bank of New York Mellon Corp now owns 59,613,837 shares of the financial services provider’s stock valued at $2,620,028,000 after purchasing an additional 2,806,927 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Bank of America by 3.7% in the 4th quarter. Fisher Asset Management LLC now owns 46,887,442 shares of the financial services provider’s stock valued at $2,060,703,000 after purchasing an additional 1,671,610 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Bank of America by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 42,929,896 shares of the financial services provider’s stock worth $1,886,769,000 after buying an additional 297,858 shares during the period. Finally, Amundi lifted its stake in Bank of America by 37.1% during the fourth quarter. Amundi now owns 37,819,980 shares of the financial services provider’s stock valued at $1,747,658,000 after buying an additional 10,231,001 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BAC shares. Wells Fargo & Company boosted their price target on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods boosted 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. Barclays raised their target price on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Robert W. Baird raised Bank of America from a “neutral” rating to an “outperform” rating and upped their price target for the company from $45.00 to $50.00 in a research report on Friday. Finally, Baird R W upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.64.

Bank of America Trading Down 0.2 %

Shares of BAC opened at $41.39 on Monday. The stock has a fifty day moving average price of $45.61 and a two-hundred day moving average price of $43.75. 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 market cap of $314.72 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.21 and a beta of 1.32. Bank of America Co. has a 52-week low of $34.15 and a 52-week high of $48.08.

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

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s dividend payout ratio is currently 32.30%.

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.