Duncker Streett & Co. Inc. Sells 3,899 Shares of Bank of America Co. (NYSE:BAC)

Duncker Streett & Co. Inc. trimmed its holdings in Bank of America Co. (NYSE:BAC) by 7.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 48,336 shares of the financial services provider’s stock after selling 3,899 shares during the quarter. Duncker Streett & Co. Inc.’s holdings in Bank of America were worth $1,627,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Fort Sheridan Advisors LLC raised its holdings in shares of Bank of America by 0.8% in the fourth quarter. Fort Sheridan Advisors LLC now owns 39,526 shares of the financial services provider’s stock valued at $1,309,000 after buying an additional 303 shares during the last quarter. Regent Peak Wealth Advisors LLC boosted its stake 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 during the last quarter. Kennedy Investment Group boosted its stake 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 during the last quarter. Private Ocean LLC boosted its stake in shares of Bank of America by 34.0% in the 4th 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 during the last quarter. Finally, Selective Wealth Management Inc. boosted its stake in shares of Bank of America by 2.0% in the 4th 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 last quarter. 70.71% of the stock is owned by institutional investors.

Bank of America Stock Down 3.5 %

Shares of NYSE BAC traded down $1.27 during midday trading on Wednesday, reaching $34.68. The company’s stock had a trading volume of 95,566,094 shares, compared to its average volume of 35,278,272. Bank of America Co. has a fifty-two week low of $24.96 and a fifty-two week high of $38.35. 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 stock has a 50 day simple moving average of $35.51 and a 200-day simple moving average of $32.19. The stock has a market capitalization of $273.65 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 1.64 and a beta of 1.39.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were paid a $0.24 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.96 annualized dividend and a dividend yield of 2.77%. Bank of America’s dividend payout ratio is presently 31.27%.

Analyst Ratings Changes

BAC has been the topic of several recent research reports. Erste Group Bank raised shares of Bank of America from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Jefferies Financial Group increased their price target on shares of Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Odeon Capital Group downgraded shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 price target on the stock. in a research report on Tuesday, January 16th. Keefe, Bruyette & Woods increased their price target 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, Oppenheimer cut their price target on shares of Bank of America from $50.00 to $46.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $38.29.

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.