Howland Capital Management LLC Trims Holdings in Bank of America Co. (NYSE:BAC)

Howland Capital Management LLC decreased its holdings in Bank of America Co. (NYSE:BAC) by 17.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,910 shares of the financial services provider’s stock after selling 11,095 shares during the quarter. Howland Capital Management LLC’s holdings in Bank of America were worth $1,714,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fortis Group Advisors LLC purchased a new position in Bank of America during the 3rd quarter worth $25,000. Castleview Partners LLC purchased a new position in shares of Bank of America in the 1st quarter valued at about $28,000. Glass Jacobson Investment Advisors llc increased its holdings in shares of Bank of America by 98.1% in 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 purchasing an additional 504 shares in the last quarter. ZRC Wealth Management LLC increased its holdings in shares of Bank of America by 192.3% in the 4th quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 750 shares in the last quarter. Finally, Live Oak Investment Partners purchased a new position in shares of Bank of America in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BAC. Oppenheimer cut their price target on shares of Bank of America from $50.00 to $46.00 and set an “outperform” rating for the company in a report on Tuesday, March 19th. Citigroup increased their price objective on shares of Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. HSBC reissued a “hold” rating and issued a $39.00 price objective (up from $38.00) on shares of Bank of America in a research note on Thursday, March 28th. BMO Capital Markets lowered their price objective 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. Finally, Barclays increased their price objective 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $36.15.

Check Out Our Latest Stock Analysis on Bank of America

Bank of America Stock Up 1.1 %

NYSE:BAC traded up $0.42 during mid-day trading on Wednesday, reaching $37.72. The stock had a trading volume of 7,235,322 shares, compared to its average volume of 40,363,207. The business’s 50 day moving average is $34.89 and its 200 day moving average is $31.57. Bank of America Co. has a fifty-two week low of $24.96 and a fifty-two week high of $38.35. The stock has a market cap of $297.63 billion, a P/E ratio of 12.15, a PEG ratio of 1.73 and a beta of 1.39. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80.

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. Bank of America had a return on equity of 11.38% and a net margin of 15.42%. The company had revenue of $22 billion during the quarter, compared to analysts’ expectations of $23.70 billion. During the same period in the prior year, the business earned $0.85 earnings per share. Bank of America’s revenue for the quarter was down 10.2% compared to the same quarter last year. As a group, sell-side analysts predict that Bank of America Co. will post 3.1 earnings per share for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were given a $0.24 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.96 annualized dividend and a yield of 2.55%. Bank of America’s dividend payout ratio (DPR) is currently 31.27%.

About Bank of America

(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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