Bank of America Corp (BAC) Shares Sold by Smith Moore & CO.

Smith Moore & CO. lessened its stake in shares of Bank of America Corp (NYSE:BAC) by 25.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,740 shares of the financial services provider’s stock after selling 3,643 shares during the quarter. Smith Moore & CO.’s holdings in Bank of America were worth $265,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. CSat Investment Advisory L.P. grew its position in Bank of America by 13.2% in the fourth quarter. CSat Investment Advisory L.P. now owns 4,177 shares of the financial services provider’s stock worth $103,000 after buying an additional 487 shares during the last quarter. IHT Wealth Management LLC grew its position in Bank of America by 11.2% in the fourth quarter. IHT Wealth Management LLC now owns 45,549 shares of the financial services provider’s stock worth $1,122,000 after buying an additional 4,592 shares during the last quarter. Segall Bryant & Hamill LLC grew its position in Bank of America by 62.8% in the fourth quarter. Segall Bryant & Hamill LLC now owns 74,729 shares of the financial services provider’s stock worth $1,841,000 after buying an additional 28,834 shares during the last quarter. CapWealth Advisors LLC grew its position in Bank of America by 8.5% in the fourth quarter. CapWealth Advisors LLC now owns 1,211,632 shares of the financial services provider’s stock worth $29,855,000 after buying an additional 94,873 shares during the last quarter. Finally, Harris Associates L P grew its position in Bank of America by 0.8% in the fourth quarter. Harris Associates L P now owns 81,107,007 shares of the financial services provider’s stock worth $1,998,477,000 after buying an additional 669,104 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

In related news, insider Dean C. Athanasia sold 129,615 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $29.78, for a total value of $3,859,934.70. Following the completion of the transaction, the insider now owns 243,617 shares of the company’s stock, valued at approximately $7,254,914.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.17% of the company’s stock.

Bank of America stock opened at $30.03 on Monday. Bank of America Corp has a 52 week low of $22.66 and a 52 week high of $31.91. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market capitalization of $307.62 billion, a P/E ratio of 11.51, a PEG ratio of 1.31 and a beta of 1.47.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Bank of America had a net margin of 25.42% and a return on equity of 11.79%. The firm had revenue of $23 billion during the quarter, compared to analyst estimates of $23.24 billion. During the same quarter last year, the business posted $0.62 EPS. The company’s revenue was down .4% on a year-over-year basis. Equities analysts forecast that Bank of America Corp will post 2.86 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Thursday, February 28th. Bank of America’s dividend payout ratio is 22.99%.

BAC has been the topic of several recent research reports. Barclays restated an “equal weight” rating and issued a $34.00 price target (down previously from $37.00) on shares of Bank of America in a research report on Wednesday, January 2nd. Robert W. Baird restated a “hold” rating and issued a $28.00 price target on shares of Bank of America in a research report on Wednesday, January 2nd. Macquarie lowered shares of Bank of America from an “outperform” rating to a “neutral” rating in a research report on Monday, January 7th. They noted that the move was a valuation call. Jefferies Financial Group restated a “buy” rating on shares of Bank of America in a research report on Tuesday, January 8th. Finally, UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Tuesday, January 8th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $33.25.

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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.

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Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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