Bank of America Co. (NYSE:BAC) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC cut its holdings in Bank of America Co. (NYSE:BAC) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 63,312 shares of the financial services provider’s stock after selling 1,997 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Bank of America were worth $2,180,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Moneta Group Investment Advisors LLC lifted its position in Bank of America by 108,111.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 193,168,025 shares of the financial services provider’s stock worth $6,397,725,000 after acquiring an additional 192,989,515 shares during the period. Norges Bank acquired a new stake in shares of Bank of America during the fourth quarter worth $3,436,543,000. Barclays PLC grew its position in Bank of America by 97.3% in the 3rd quarter. Barclays PLC now owns 41,290,694 shares of the financial services provider’s stock valued at $1,130,538,000 after buying an additional 20,362,295 shares during the last quarter. Snider Financial Group increased its stake in Bank of America by 9,477.3% in the 1st quarter. Snider Financial Group now owns 14,448,357 shares of the financial services provider’s stock valued at $5,956,000 after buying an additional 14,297,496 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in Bank of America by 3,474.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 11,658,881 shares of the financial services provider’s stock worth $480,579,000 after buying an additional 11,332,721 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. BMO Capital Markets dropped their target price on Bank of America from $37.00 to $36.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 16th. Oppenheimer cut their price objective on Bank of America from $50.00 to $46.00 and set an “outperform” rating for the company in a research report on Tuesday, March 19th. Odeon Capital Group lowered shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 target price on the stock. in a research report on Tuesday, January 16th. HSBC reiterated a “hold” rating and issued a $39.00 price objective (up previously from $38.00) on shares of Bank of America in a research note on Thursday. Finally, Barclays upped their target price 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.15.

Bank of America Price Performance

Bank of America stock traded up $0.11 during mid-day trading on Thursday, hitting $37.92. 42,116,296 shares of the company were exchanged, compared to its average volume of 41,135,176. Bank of America Co. has a 12-month low of $24.96 and a 12-month high of $38.00. The company has a market capitalization of $299.21 billion, a P/E ratio of 12.35, a PEG ratio of 1.70 and a beta of 1.38. The business’s 50 day simple moving average is $34.47 and its two-hundred day simple moving average is $31.31. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Friday, January 12th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $22 billion during the quarter, compared to analysts’ expectations of $23.70 billion. Bank of America had a return on equity of 11.38% and a net margin of 15.42%. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.85 EPS. Analysts forecast that Bank of America Co. will post 3.11 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, March 29th. Shareholders of record on Friday, March 1st will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Thursday, February 29th. Bank of America’s dividend payout ratio is presently 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.