Certuity LLC Sells 3,642 Shares of Bank of America Co. (NYSE:BAC)

Certuity LLC decreased its stake in shares of Bank of America Co. (NYSE:BAC) by 0.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 520,167 shares of the financial services provider’s stock after selling 3,642 shares during the quarter. Bank of America accounts for about 1.8% of Certuity LLC’s investment portfolio, making the stock its 14th biggest position. Certuity LLC’s holdings in Bank of America were worth $17,514,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Regent Peak Wealth Advisors LLC boosted its holdings in shares of Bank of America by 3.2% in the fourth quarter. Regent Peak Wealth Advisors LLC now owns 9,976 shares of the financial services provider’s stock valued at $336,000 after buying an additional 314 shares during the period. Kennedy Investment Group boosted its holdings in Bank of America by 0.6% during the fourth quarter. Kennedy Investment Group now owns 58,007 shares of the financial services provider’s stock worth $1,953,000 after purchasing an additional 321 shares during the last quarter. Private Ocean LLC lifted its stake in Bank of America by 34.0% in the fourth quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 325 shares during the last quarter. Selective Wealth Management Inc. lifted its stake in Bank of America by 2.0% in the fourth quarter. Selective Wealth Management Inc. now owns 17,351 shares of the financial services provider’s stock valued at $586,000 after acquiring an additional 334 shares during the last quarter. Finally, Legacy Capital Wealth Partners LLC lifted its stake in Bank of America by 4.0% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 8,770 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 338 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

BAC has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. UBS Group reissued a “neutral” rating and issued a $40.00 price objective (up from $39.00) on shares of Bank of America in a research report on Thursday, April 4th. Citigroup increased their price objective on shares of Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Keefe, Bruyette & Woods increased their price objective on shares of Bank of America from $33.00 to $37.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Finally, Barclays increased their price objective on shares of Bank of America from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Bank of America presently has a consensus rating of “Hold” and an average target price of $38.59.

Bank of America Trading Down 0.9 %

Shares of NYSE:BAC traded down $0.33 during mid-day trading on Tuesday, hitting $37.22. The company had a trading volume of 15,854,309 shares, compared to its average volume of 40,930,852. The firm has a fifty day moving average price of $36.20 and a 200 day moving average price of $32.88. The company has a market capitalization of $293.69 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 1.69 and a beta of 1.39. 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 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 quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.06. The company had revenue of $25.82 billion during the quarter, compared to analyst estimates of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. Bank of America’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 EPS. As a group, research analysts forecast that Bank of America Co. will post 3.19 EPS for the current year.

Bank of America Announces Dividend

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

About Bank of America

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.