Oder Investment Management LLC Sells 1,591 Shares of Bank of America Co. (NYSE:BAC)

Oder Investment Management LLC cut its holdings in shares of Bank of America Co. (NYSE:BAC) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,899 shares of the financial services provider’s stock after selling 1,591 shares during the quarter. Bank of America accounts for 1.0% of Oder Investment Management LLC’s holdings, making the stock its 29th largest position. Oder Investment Management LLC’s holdings in Bank of America were worth $1,007,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Fortis Group Advisors LLC acquired a new stake in shares of Bank of America during the 3rd quarter worth approximately $25,000. Criterion Capital Advisors LLC acquired a new position in shares of Bank of America during the fourth quarter worth $32,000. Glass Jacobson Investment Advisors llc lifted its holdings in shares of Bank of America by 98.1% during the third quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 504 shares during the period. ZRC Wealth Management LLC lifted its holdings in shares of Bank of America by 192.3% during the fourth quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 750 shares during the period. Finally, Private Ocean LLC increased 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 purchasing an additional 325 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

BAC has been the subject of several research analyst reports. Odeon Capital Group downgraded shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 price target for the company. in a research note on Tuesday, January 16th. Keefe, Bruyette & Woods lifted 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 report on Friday, April 5th. Evercore ISI lifted their price objective on shares of Bank of America from $37.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Oppenheimer lifted their price objective on shares of Bank of America from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Erste Group Bank upgraded shares of Bank of America from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $38.59.

Bank of America Price Performance

Shares of NYSE:BAC traded down $0.08 during trading on Wednesday, reaching $36.93. The company had a trading volume of 9,592,161 shares, compared to its average volume of 40,740,930. The company has a fifty day moving average of $36.26 and a two-hundred day moving average of $32.95. The stock has a market capitalization of $291.40 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 1.68 and a beta of 1.39. Bank of America Co. has a 12 month low of $24.96 and a 12 month high of $38.49. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12.

Bank of America (NYSE:BAC) last issued its quarterly 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 firm had revenue of $25.82 billion for 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%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 EPS. Equities research analysts forecast that Bank of America Co. will post 3.19 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.24 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.60%. Bank of America’s dividend payout ratio (DPR) is 33.22%.

Bank of America Company 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.