Bank of America Co. (NYSE:BAC) Shares Sold by Flaharty Asset Management LLC

Flaharty Asset Management LLC decreased its position in shares of Bank of America Co. (NYSE:BAC) by 25.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,913 shares of the financial services provider’s stock after selling 3,030 shares during the quarter. Flaharty Asset Management LLC’s holdings in Bank of America were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Collier Financial purchased a new stake in Bank of America in the 4th quarter valued at about $25,000. Life Planning Partners Inc raised its holdings in Bank of America by 3,883.2% in the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after buying an additional 545,936 shares during the period. Kennebec Savings Bank purchased a new stake in Bank of America during the third quarter worth about $29,000. Highline Wealth Partners LLC increased its stake in Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 510 shares during the period. Finally, Retirement Wealth Solutions LLC purchased a new stake in Bank of America during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

BAC stock opened at $46.19 on Friday. The company has a market capitalization of $354.37 billion, a P/E ratio of 14.34, a PEG ratio of 1.21 and a beta of 1.33. Bank of America Co. has a twelve month low of $34.03 and a twelve month high of $48.08. The business has a 50 day simple moving average of $45.78 and a 200-day simple moving average of $43.56. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. The business had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 earnings per share. As a group, equities analysts anticipate that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

Analysts Set New Price Targets

A number of brokerages have issued reports on BAC. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $46.00 to $54.00 in a research note on Friday, November 8th. Morgan Stanley upped their target price on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and upped their target price for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. Wells Fargo & Company upped their target price on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Barclays upped their target price on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.58.

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.