Bank of America Co. (NYSE:BAC) Shares Sold by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC trimmed its position in Bank of America Co. (NYSE:BAC) by 40.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,726 shares of the financial services provider’s stock after selling 12,761 shares during the period. Fidelis Capital Partners LLC’s holdings in Bank of America were worth $631,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Fortis Group Advisors LLC acquired a new position in Bank of America in the 3rd quarter valued at $25,000. Castleview Partners LLC acquired a new position in Bank of America in the first quarter valued at $28,000. Glass Jacobson Investment Advisors llc lifted its position in Bank of America by 98.1% during the third quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock worth $28,000 after buying an additional 504 shares during the period. ZRC Wealth Management LLC boosted its stake in 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 worth $38,000 after buying an additional 750 shares during the last quarter. Finally, Live Oak Investment Partners purchased a new stake in Bank of America in the 4th quarter valued at about $39,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Stock Up 2.8 %

Shares of NYSE:BAC traded up $1.01 during trading on Friday, hitting $36.78. The company’s stock had a trading volume of 13,887,875 shares, compared to its average volume of 41,202,004. The company has a market capitalization of $290.22 billion, a PE ratio of 12.38, a PEG ratio of 1.59 and a beta of 1.39. Bank of America Co. has a fifty-two week low of $24.96 and a fifty-two week high of $38.35. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.80 and a current ratio of 0.79. The stock’s 50-day moving average price is $35.61 and its two-hundred day moving average price is $32.24.

Bank of America (NYSE:BAC) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The company had revenue of $25.82 billion for the quarter, compared to analyst estimates of $25.49 billion. During the same period in the prior year, the company posted $0.94 EPS. Bank of America’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, sell-side analysts expect that Bank of America Co. will post 3.16 EPS for the current year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were paid a $0.24 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.61%. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BAC. Wells Fargo & Company raised their target price on shares of Bank of America from $40.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. Odeon Capital Group cut shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 price objective for the company. in a research note on Tuesday, January 16th. Jefferies Financial Group increased their target price on Bank of America from $36.00 to $39.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Citigroup boosted their price target on Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Finally, Barclays raised their price objective on Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Bank of America presently has an average rating of “Hold” and a consensus target price of $38.53.

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.