Colony Group LLC Sells 2,740 Shares of Bank of America Corp (NYSE:BAC)

Colony Group LLC lowered its stake in shares of Bank of America Corp (NYSE:BAC) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 76,987 shares of the financial services provider’s stock after selling 2,740 shares during the period. Colony Group LLC’s holdings in Bank of America were worth $2,711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of BAC. TFO TDC LLC acquired a new stake in Bank of America during the 4th quarter worth $26,000. Sage Financial Group Inc. acquired a new stake in shares of Bank of America during the fourth quarter worth about $38,000. Corbenic Partners LLC acquired a new stake in shares of Bank of America during the fourth quarter worth about $39,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Bank of America during the fourth quarter worth about $43,000. Finally, Advisors Preferred LLC bought a new position in shares of Bank of America during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.

NYSE BAC opened at $21.10 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 1.00. Bank of America Corp has a 12-month low of $17.95 and a 12-month high of $35.72. The company has a market capitalization of $184.09 billion, a PE ratio of 7.70, a price-to-earnings-growth ratio of 1.03 and a beta of 1.63. The firm’s 50 day moving average is $28.69 and its 200-day moving average is $31.41.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.05. Bank of America had a net margin of 24.15% and a return on equity of 11.95%. The company had revenue of $22.30 billion for the quarter, compared to the consensus estimate of $22.30 billion. During the same period last year, the company earned $0.70 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year. As a group, sell-side analysts expect that Bank of America Corp will post 2.92 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 6th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $0.72 annualized dividend and a yield of 3.41%. Bank of America’s dividend payout ratio (DPR) is currently 24.49%.

A number of analysts recently issued reports on BAC shares. Argus reissued a “buy” rating and set a $39.00 target price (up from $35.00) on shares of Bank of America in a research note on Wednesday, January 15th. BMO Capital Markets lowered shares of Bank of America from an “outperform” rating to a “market perform” rating and set a $37.00 price target on the stock. in a research note on Thursday, January 2nd. Deutsche Bank reduced their price target on shares of Bank of America from $33.00 to $25.00 and set a “hold” rating for the company in a report on Wednesday. ValuEngine raised shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, March 11th. Finally, Credit Suisse Group raised their price objective on shares of Bank of America from $38.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, January 16th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $34.16.

About Bank of America

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 through 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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