Yousif Capital Management LLC Trims Stock Position in Bank of America Co. (NYSE:BAC)

Yousif Capital Management LLC cut its position in shares of Bank of America Co. (NYSE:BAC) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,075,151 shares of the financial services provider’s stock after selling 38,523 shares during the period. Bank of America makes up 0.4% of Yousif Capital Management LLC’s holdings, making the stock its 26th biggest holding. Yousif Capital Management LLC’s holdings in Bank of America were worth $36,200,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Regent Peak Wealth Advisors LLC raised its stake in Bank of America by 3.2% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 9,976 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 314 shares during the period. Kennedy Investment Group increased its position in shares of Bank of America by 0.6% during the fourth quarter. Kennedy Investment Group now owns 58,007 shares of the financial services provider’s stock valued at $1,953,000 after acquiring an additional 321 shares during the last quarter. Private Ocean LLC increased its position in shares of Bank of America by 34.0% during the fourth quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 325 shares during the last quarter. Selective Wealth Management Inc. increased its position in shares of Bank of America by 2.0% during the fourth quarter. Selective Wealth Management Inc. now owns 17,351 shares of the financial services provider’s stock valued at $586,000 after acquiring an additional 334 shares during the last quarter. Finally, Morton Capital Management LLC CA increased its position in shares of Bank of America by 3.3% during the fourth quarter. Morton Capital Management LLC CA now owns 10,628 shares of the financial services provider’s stock valued at $358,000 after acquiring an additional 341 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on BAC shares. HSBC reiterated a “hold” rating and set a $39.00 price target (up from $38.00) on shares of Bank of America in a research report on Thursday, March 28th. Barclays lifted their price objective on shares of Bank of America from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Evercore ISI lifted their price objective on shares of Bank of America from $37.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Jefferies Financial Group lifted their price objective on shares of Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a report on Monday, April 8th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Bank of America from $33.00 to $37.00 and gave the company a “market perform” rating in a report on Friday, April 5th. One 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’s stock. According to data from MarketBeat.com, Bank of America currently has an average rating of “Hold” and a consensus target price of $38.53.

Bank of America Stock Up 1.7 %

Bank of America stock traded up $0.64 during trading on Tuesday, reaching $38.37. The stock had a trading volume of 39,159,885 shares, compared to its average volume of 41,775,906. The stock has a market cap of $302.72 billion, a PE ratio of 13.28, a P/E/G ratio of 1.66 and a beta of 1.39. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $38.42. The business has a 50 day moving average price of $35.88 and a 200 day moving average price of $32.57.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.06. The business had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 EPS. On average, analysts predict that Bank of America Co. will post 3.17 EPS for the current year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were given a dividend of $0.24 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.50%. Bank of America’s dividend payout ratio is presently 33.22%.

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.