Bogart Wealth LLC Sells 543 Shares of Bank of America Co. (NYSE:BAC)

Bogart Wealth LLC trimmed its position in shares of Bank of America Co. (NYSE:BAC) by 14.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,166 shares of the financial services provider’s stock after selling 543 shares during the period. Bogart Wealth LLC’s holdings in Bank of America were worth $107,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BAC. Schechter Investment Advisors LLC grew its position in Bank of America by 8.2% in the third quarter. Schechter Investment Advisors LLC now owns 55,348 shares of the financial services provider’s stock valued at $1,515,000 after acquiring an additional 4,187 shares during the last quarter. Auxano Advisors LLC grew its holdings in shares of Bank of America by 234.5% during the 4th quarter. Auxano Advisors LLC now owns 27,356 shares of the financial services provider’s stock valued at $921,000 after purchasing an additional 19,179 shares during the last quarter. Stonebridge Capital Advisors LLC lifted its stake in Bank of America by 3.7% in the 3rd quarter. Stonebridge Capital Advisors LLC now owns 65,495 shares of the financial services provider’s stock valued at $1,793,000 after purchasing an additional 2,332 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its position in Bank of America by 228.3% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 67,511 shares of the financial services provider’s stock valued at $2,273,000 after buying an additional 46,950 shares in the last quarter. Finally, DiNuzzo Private Wealth Inc. bought a new stake in shares of Bank of America during the fourth quarter worth $105,000. 70.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BAC shares. Jefferies Financial Group boosted their price objective 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. BMO Capital Markets raised their price objective on shares of Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. UBS Group reissued a “neutral” rating and set a $40.00 target price (up from $39.00) on shares of Bank of America in a report on Thursday, April 4th. HSBC reiterated a “hold” rating and issued a $39.00 price target (up previously from $38.00) on shares of Bank of America in a research report on Thursday, March 28th. Finally, Odeon Capital Group lowered Bank of America from a “buy” rating to a “hold” rating and set a $33.90 price objective on the stock. in a research note on Tuesday, January 16th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of America currently has a consensus rating of “Hold” and a consensus target price of $38.70.

Bank of America Stock Down 0.4 %

Shares of Bank of America stock traded down $0.14 during trading hours on Wednesday, reaching $37.70. The company’s stock had a trading volume of 32,799,608 shares, compared to its average volume of 40,510,223. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79. The stock’s fifty day simple moving average is $36.61 and its two-hundred day simple moving average is $33.31. The company has a market capitalization of $294.83 billion, a P/E ratio of 13.04, a P/E/G ratio of 1.66 and a beta of 1.37. Bank of America Co. has a one year low of $24.96 and a one year high of $38.49.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The company had revenue of $25.82 billion for 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 revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.94 EPS. On average, research analysts forecast that Bank of America Co. will post 3.21 earnings per share for the current year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.96 annualized dividend and a yield of 2.55%. Bank of America’s payout ratio is 33.22%.

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.