Lee Johnson Capital Management LLC Sells 1,476 Shares of Bank of America Co. (NYSE:BAC)

Lee Johnson Capital Management LLC reduced its position in Bank of America Co. (NYSE:BAC) by 17.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,985 shares of the financial services provider’s stock after selling 1,476 shares during the quarter. Bank of America comprises about 0.4% of Lee Johnson Capital Management LLC’s portfolio, making the stock its 11th largest position. Lee Johnson Capital Management LLC’s holdings in Bank of America were worth $235,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of BAC. Roundview Capital LLC boosted its position in Bank of America by 1.5% during the 1st quarter. Roundview Capital LLC now owns 135,764 shares of the financial services provider’s stock worth $5,596,000 after buying an additional 2,013 shares during the period. Loomis Sayles & Co. L P lifted its position in shares of Bank of America by 150.3% in the 1st quarter. Loomis Sayles & Co. L P now owns 1,985 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 1,192 shares during the period. NewEdge Advisors LLC lifted its position in shares of Bank of America by 4.2% in the 1st quarter. NewEdge Advisors LLC now owns 405,098 shares of the financial services provider’s stock worth $16,698,000 after purchasing an additional 16,319 shares during the period. First Western Trust Bank acquired a new position in shares of Bank of America in the 1st quarter worth approximately $586,000. Finally, Pearl River Capital LLC acquired a new position in shares of Bank of America in the 1st quarter worth approximately $534,000. 70.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on BAC. The Goldman Sachs Group lifted their price objective on shares of Bank of America from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, December 1st. Oppenheimer lowered their price objective on shares of Bank of America from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Tuesday, March 19th. Barclays boosted their price target on shares of Bank of America from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. BMO Capital Markets decreased their price target on shares of Bank of America from $37.00 to $36.00 and set a “market perform” rating for the company in a research note on Tuesday, January 16th. Finally, Citigroup boosted their price target on shares of Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.15.

Bank of America Stock Up 0.3 %

BAC stock opened at $37.92 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. The company’s 50 day moving average is $34.47 and its 200 day moving average is $31.31. The stock has a market cap of $299.21 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 1.74 and a beta of 1.38. Bank of America Co. has a 1-year low of $24.96 and a 1-year high of $38.00.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. Bank of America had a net margin of 15.42% and a return on equity of 11.38%. The company had revenue of $22 billion for the quarter, compared to analysts’ expectations of $23.70 billion. During the same period in the prior year, the business earned $0.85 earnings per share. Bank of America’s revenue for the quarter was down 10.2% compared to the same quarter last year. Sell-side analysts predict that Bank of America Co. will post 3.11 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 1st will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Thursday, February 29th. Bank of America’s payout ratio is currently 31.27%.

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.