Bank of America Co. (NYSE:BAC) Stock Position Decreased by Lazari Capital Management Inc.

Lazari Capital Management Inc. lowered its stake in Bank of America Co. (NYSE:BAC) by 2.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 124,748 shares of the financial services provider’s stock after selling 3,080 shares during the period. Bank of America accounts for about 2.4% of Lazari Capital Management Inc.’s holdings, making the stock its 9th largest holding. Lazari Capital Management Inc.’s holdings in Bank of America were worth $4,200,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in BAC. Rossmore Private Capital lifted its holdings in Bank of America by 1.2% during the 4th quarter. Rossmore Private Capital now owns 26,537 shares of the financial services provider’s stock worth $894,000 after buying an additional 303 shares in the last quarter. Regent Peak Wealth Advisors LLC raised its holdings in shares of Bank of America by 3.2% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 9,976 shares of the financial services provider’s stock valued at $336,000 after purchasing an additional 314 shares in the last quarter. Kennedy Investment Group raised its holdings in shares of Bank of America by 0.6% in the 4th quarter. Kennedy Investment Group now owns 58,007 shares of the financial services provider’s stock valued at $1,953,000 after purchasing an additional 321 shares in the last quarter. Private Ocean LLC boosted its stake in Bank of America by 34.0% during the 4th quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 325 shares during the period. Finally, Selective Wealth Management Inc. increased 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 purchasing an additional 334 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Trading Down 0.1 %

Shares of Bank of America stock traded down $0.02 during trading hours on Friday, hitting $39.24. The company’s stock had a trading volume of 32,347,866 shares, compared to its average volume of 33,762,496. Bank of America Co. has a 1-year low of $24.96 and a 1-year high of $40.19. The business has a fifty day moving average of $38.23 and a 200 day moving average of $35.47. The company has a market capitalization of $306.87 billion, a PE ratio of 13.58, a P/E/G ratio of 1.74 and a beta of 1.36. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12.

Bank of America (NYSE:BACGet Free Report) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The business 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%. The business’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the business earned $0.94 EPS. As a group, equities analysts forecast that Bank of America Co. will post 3.21 EPS for the current year.

Bank of America Announces Dividend

The business also recently disclosed 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 2.45%. Bank of America’s dividend payout ratio (DPR) is 33.22%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. StockNews.com lowered shares of Bank of America from a “hold” rating to a “sell” rating in a research note on Monday, May 20th. BMO Capital Markets boosted their price target on shares of Bank of America from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th. Evercore ISI boosted their price target on shares of Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Citigroup boosted their price target on shares of Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Finally, UBS Group reiterated a “neutral” rating and set a $40.00 price target (up from $39.00) on shares of Bank of America in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $39.79.

View Our Latest Analysis on BAC

Bank of America Company Profile

(Free Report)

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.

See Also

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

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