Bank of New Hampshire Lowers Position in Bank of America Co. (NYSE:BAC)

Bank of New Hampshire decreased its position in Bank of America Co. (NYSE:BAC) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,933 shares of the financial services provider’s stock after selling 432 shares during the period. Bank of New Hampshire’s holdings in Bank of America were worth $3,163,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in BAC. Fortis Group Advisors LLC purchased a new stake in Bank of America during the third quarter worth about $25,000. Criterion Capital Advisors LLC acquired a new position in Bank of America during the fourth quarter worth about $32,000. Glass Jacobson Investment Advisors llc raised its position in shares of Bank of America by 98.1% in the third quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock valued at $28,000 after buying an additional 504 shares during the last quarter. ZRC Wealth Management LLC raised its position in shares of Bank of America by 192.3% in the fourth quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock valued at $38,000 after buying an additional 750 shares during the last quarter. Finally, Private Ocean LLC raised its position in shares of 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 buying an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

BAC traded up $0.18 during trading on Friday, reaching $38.09. 10,735,154 shares of the company’s stock were exchanged, compared to its average volume of 41,217,609. Bank of America Co. has a fifty-two week low of $24.96 and a fifty-two week high of $38.49. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The business has a 50 day moving average price of $36.06 and a 200 day moving average price of $32.64. The company has a market capitalization of $300.55 billion, a P/E ratio of 13.10, a PEG ratio of 1.72 and a beta of 1.39.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The company had revenue of $25.82 billion during the quarter, compared to analysts’ expectations of $25.49 billion. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. 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 earnings per share. As a group, analysts predict that Bank of America Co. will post 3.19 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.52%. Bank of America’s dividend payout ratio is 33.22%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Oppenheimer cut their price objective on shares of Bank of America from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, April 17th. Evercore ISI boosted their target price 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. Morgan Stanley upgraded shares of Bank of America from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $32.00 to $41.00 in a report on Tuesday, January 30th. Finally, Jefferies Financial Group boosted their target price on shares of Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $38.53.

About Bank of America

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.