Bank of America Co. (NYSE:BAC) Shares Sold by Pictet Asset Management SA

Pictet Asset Management SA lessened its position in Bank of America Co. (NYSE:BACGet Rating) by 8.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,330,023 shares of the financial services provider’s stock after selling 300,660 shares during the period. Pictet Asset Management SA’s holdings in Bank of America were worth $148,153,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Cassady Schiller Wealth Management LLC acquired a new position in Bank of America during the fourth quarter worth approximately $39,000. Crewe Advisors LLC increased its position in Bank of America by 198.0% during the fourth quarter. Crewe Advisors LLC now owns 894 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 594 shares during the last quarter. Country Trust Bank increased its position in Bank of America by 51.4% during the fourth quarter. Country Trust Bank now owns 945 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 321 shares during the last quarter. Horan Securities Inc. acquired a new position in Bank of America during the fourth quarter worth approximately $42,000. Finally, Level Financial Advisors Inc. acquired a new position in Bank of America during the fourth quarter worth approximately $50,000. 70.46% of the stock is owned by institutional investors and hedge funds.

BAC stock opened at $35.17 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.16. Bank of America Co. has a 52-week low of $34.26 and a 52-week high of $50.11. The stock’s 50 day moving average is $39.57 and its two-hundred day moving average is $43.76. The company has a market capitalization of $283.36 billion, a PE ratio of 10.05, a P/E/G ratio of 1.55 and a beta of 1.39.

Bank of America (NYSE:BACGet Rating) last issued its quarterly earnings results on Monday, April 18th. The financial services provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. Bank of America had a return on equity of 12.55% and a net margin of 32.84%. The business had revenue of $23.20 billion during the quarter, compared to the consensus estimate of $23.09 billion. During the same period in the previous year, the business earned $0.86 EPS. The business’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Bank of America Co. will post 3.28 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 3rd will be issued a $0.21 dividend. The ex-dividend date is Thursday, June 2nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.39%. Bank of America’s dividend payout ratio (DPR) is 24.00%.

Several equities analysts recently commented on BAC shares. Oppenheimer dropped their price target on shares of Bank of America from $52.00 to $50.00 in a research report on Tuesday, May 3rd. StockNews.com started coverage on shares of Bank of America in a research report on Thursday, March 31st. They set a “hold” rating for the company. JPMorgan Chase & Co. increased their price objective on shares of Bank of America from $52.50 to $53.50 in a research report on Thursday, February 3rd. Morgan Stanley raised shares of Bank of America from an “underweight” rating to an “equal weight” rating and dropped their price objective for the stock from $51.00 to $49.00 in a research report on Monday, March 28th. Finally, The Goldman Sachs Group dropped their price objective on shares of Bank of America from $52.00 to $51.00 and set a “buy” rating for the company in a research report on Wednesday, April 20th. Nine research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $50.41.

Bank of America Profile (Get Rating)

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. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans.

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

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