Bank of America (BAC) Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP reduced its holdings in shares of Bank of America (NYSE:BAC) by 10.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 444,704 shares of the financial services provider’s stock after selling 51,650 shares during the period. Systematic Financial Management LP’s holdings in Bank of America were worth $13,128,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BAC. Burt Wealth Advisors boosted its stake in shares of Bank of America by 4,013.1% during the 3rd quarter. Burt Wealth Advisors now owns 4,401 shares of the financial services provider’s stock valued at $112,000 after buying an additional 4,294 shares during the last quarter. MPS Loria Financial Planners LLC purchased a new position in shares of Bank of America during the 2nd quarter valued at approximately $115,000. Legacy Advisors LLC purchased a new position in shares of Bank of America during the 3rd quarter valued at approximately $115,000. HWG Holdings LP acquired a new stake in shares of Bank of America during the 3rd quarter valued at approximately $116,000. Finally, Bristlecone Advisors LLC acquired a new stake in shares of Bank of America during the 3rd quarter valued at approximately $128,000. Institutional investors own 69.84% of the company’s stock.

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Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued a “buy” rating and set a $35.00 price target on shares of Bank of America in a research report on Thursday. Vetr lowered Bank of America from a “buy” rating to a “hold” rating and set a $34.13 price target on the stock. in a research report on Monday, March 12th. Credit Suisse Group upped their price target on Bank of America from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, March 16th. Societe Generale lowered Bank of America from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Finally, ValuEngine raised Bank of America from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Nine research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $30.97.

Shares of NYSE BAC opened at $29.63 on Friday. Bank of America has a 1-year low of $22.07 and a 1-year high of $33.05. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $310,588.69, a price-to-earnings ratio of 16.19, a P/E/G ratio of 1.53 and a beta of 1.37.

Bank of America (NYSE:BAC) last issued its earnings results on Wednesday, January 17th. The financial services provider reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.03. Bank of America had a return on equity of 8.54% and a net margin of 18.03%. The firm had revenue of $20.69 billion for the quarter, compared to analyst estimates of $21.61 billion. During the same period last year, the company earned $0.40 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. sell-side analysts anticipate that Bank of America will post 2.48 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 2nd were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.62%. The ex-dividend date was Thursday, March 1st. Bank of America’s dividend payout ratio is presently 26.23%.

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Bank of America Company 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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

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

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