WINTON GROUP Ltd lessened its holdings in Bank of America Corp (NYSE:BAC) by 22.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,611 shares of the financial services provider’s stock after selling 5,444 shares during the period. WINTON GROUP Ltd’s holdings in Bank of America were worth $459,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. Pinnacle Wealth Management Advisory Group LLC increased its stake in Bank of America by 3.8% in the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 9,573 shares of the financial services provider’s stock valued at $236,000 after purchasing an additional 350 shares in the last quarter. Gradient Capital Advisors LLC increased its position in Bank of America by 2.1% during the fourth quarter. Gradient Capital Advisors LLC now owns 18,193 shares of the financial services provider’s stock worth $448,000 after buying an additional 380 shares in the last quarter. LVW Advisors LLC increased its position in Bank of America by 3.6% during the fourth quarter. LVW Advisors LLC now owns 11,345 shares of the financial services provider’s stock worth $280,000 after buying an additional 398 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Bank of America by 1.4% during the fourth quarter. Quadrant Capital Group LLC now owns 29,491 shares of the financial services provider’s stock worth $708,000 after purchasing an additional 400 shares during the last quarter. Finally, Walter & Keenan Financial Consulting Co. MI ADV boosted its holdings in Bank of America by 2.8% in the fourth quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 14,634 shares of the financial services provider’s stock valued at $361,000 after acquiring an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 63.72% of the company’s stock.
A number of research analysts recently weighed in on BAC shares. ValuEngine cut Bank of America from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Wells Fargo & Co set a $36.00 target price on Bank of America and gave the company a “buy” rating in a report on Wednesday, January 16th. Credit Suisse Group reduced their target price on Bank of America from $36.00 to $35.00 and set an “outperform” rating on the stock in a report on Friday, December 7th. Daiwa Capital Markets cut Bank of America from an “outperform” rating to a “market perform” rating in a report on Friday, February 8th. Finally, Edward Jones upgraded Bank of America from a “hold” rating to a “buy” rating in a report on Wednesday, January 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Bank of America has an average rating of “Hold” and a consensus target price of $33.18.BAC traded up $0.50 during trading on Wednesday, reaching $29.44. The stock had a trading volume of 26,622,173 shares, compared to its average volume of 61,911,309. The company has a market capitalization of $296.45 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 1.28 and a beta of 1.45. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.92 and a quick ratio of 0.91. Bank of America Corp has a 1-year low of $22.66 and a 1-year high of $32.99.
Bank of America (NYSE:BAC) last released its earnings results on Wednesday, January 16th. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.07. The firm had revenue of $22.89 billion during the quarter, compared to the consensus estimate of $22.37 billion. Bank of America had a return on equity of 11.66% and a net margin of 25.45%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 earnings per share. Equities analysts expect that Bank of America Corp will post 2.84 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 1st will be issued a $0.15 dividend. The ex-dividend date is Thursday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 2.04%. Bank of America’s dividend payout ratio is currently 22.99%.
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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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.
Further Reading: How can you know how many shares are floating?
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