Guyasuta Investment Advisors Inc. decreased its position in shares of Bank of America Co. (NYSE:BAC – Free Report) by 96.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,859 shares of the financial services provider’s stock after selling 386,144 shares during the quarter. Guyasuta Investment Advisors Inc.’s holdings in Bank of America were worth $500,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC bought a new position in Bank of America during the 3rd quarter worth approximately $25,000. Criterion Capital Advisors LLC bought a new position in Bank of America during the 4th quarter worth approximately $32,000. Glass Jacobson Investment Advisors llc raised its holdings in Bank of America by 98.1% during the 3rd 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 last quarter. ZRC Wealth Management LLC raised its holdings in Bank of America by 192.3% during the 4th 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 last quarter. Finally, Private Ocean LLC raised its holdings 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 last quarter. Institutional investors own 70.71% of the company’s stock.
Bank of America Stock Performance
NYSE BAC opened at $37.56 on Tuesday. The company has a fifty day simple moving average of $36.20 and a 200 day simple moving average of $32.88. 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. The company has a market cap of $296.37 billion, a P/E ratio of 13.00, a PEG ratio of 1.69 and a beta of 1.39.
Bank of America Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Friday, June 7th. Bank of America’s dividend payout ratio is 33.22%.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on BAC shares. Morgan Stanley upgraded shares of Bank of America from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $32.00 to $41.00 in a report on Tuesday, January 30th. Barclays raised their price objective on shares of Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Oppenheimer raised their price objective on shares of Bank of America from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Tuesday. BMO Capital Markets raised their price objective on shares of Bank of America from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Finally, Jefferies Financial Group raised their price objective on shares of Bank of America from $36.00 to $39.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Bank of America currently has an average rating of “Hold” and an average target price of $38.59.
Read Our Latest Stock Analysis on Bank of America
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.
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