Bank of America Co. (NYSE:BAC) Shares Sold by Resolute Wealth Strategies LLC

Resolute Wealth Strategies LLC decreased its position in Bank of America Co. (NYSE:BAC) by 30.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,352 shares of the financial services provider’s stock after selling 4,593 shares during the quarter. Resolute Wealth Strategies LLC’s holdings in Bank of America were worth $349,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of BAC. Fortis Group Advisors LLC acquired a new stake in shares of Bank of America during the 3rd quarter valued at $25,000. Criterion Capital Advisors LLC acquired a new position in shares of Bank of America in the 4th quarter valued at $32,000. Glass Jacobson Investment Advisors llc increased its stake in 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 worth $28,000 after purchasing an additional 504 shares in the last quarter. ZRC Wealth Management LLC raised its holdings in Bank of America by 192.3% during 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 period. Finally, Private Ocean LLC lifted its stake in 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 buying an additional 325 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Stock Up 1.0 %

Shares of BAC stock traded up $0.37 on Friday, hitting $37.25. The company’s stock had a trading volume of 34,082,662 shares, compared to its average volume of 41,339,492. The stock has a market capitalization of $291.31 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 1.66 and a beta of 1.37. Bank of America Co. has a fifty-two week low of $24.96 and a fifty-two week high of $38.49. The firm’s fifty day moving average price is $36.46 and its 200-day moving average price is $33.08. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The company had revenue of $25.82 billion during the quarter, compared to analysts’ expectations of $25.49 billion. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The business’s quarterly 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 earnings per share. Research analysts anticipate that Bank of America Co. will post 3.21 EPS for the current year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, June 7th. This represents a $0.96 annualized dividend and a yield of 2.58%. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.

Wall Street Analyst Weigh In

BAC has been the topic of several analyst reports. Wells Fargo & Company lifted 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. BMO Capital Markets boosted their target price on shares of Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Odeon Capital Group lowered Bank of America from a “buy” rating to a “hold” rating and set a $33.90 price target on the stock. in a research report on Tuesday, January 16th. Citigroup raised their price objective on Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Finally, UBS Group reiterated a “neutral” rating and issued a $40.00 target price (up previously from $39.00) on shares of Bank of America in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $38.70.

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.