Leisure Capital Management Sells 950 Shares of Bank of America Co. (NYSE:BAC)

Leisure Capital Management trimmed its holdings in shares of Bank of America Co. (NYSE:BAC) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,563 shares of the financial services provider’s stock after selling 950 shares during the quarter. Leisure Capital Management’s holdings in Bank of America were worth $625,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Schechter Investment Advisors LLC grew its stake in Bank of America by 8.2% during the third quarter. Schechter Investment Advisors LLC now owns 55,348 shares of the financial services provider’s stock worth $1,515,000 after buying an additional 4,187 shares in the last quarter. Stonebridge Capital Advisors LLC grew its stake in Bank of America by 3.7% during the third quarter. Stonebridge Capital Advisors LLC now owns 65,495 shares of the financial services provider’s stock worth $1,793,000 after buying an additional 2,332 shares in the last quarter. Kingswood Wealth Advisors LLC grew its stake in Bank of America by 228.3% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 67,511 shares of the financial services provider’s stock worth $2,273,000 after buying an additional 46,950 shares in the last quarter. Sarasin & Partners LLP acquired a new stake in Bank of America during the fourth quarter worth about $673,000. Finally, Pinnacle Associates Ltd. grew its stake in Bank of America by 30.0% during the third quarter. Pinnacle Associates Ltd. now owns 978,784 shares of the financial services provider’s stock worth $26,799,000 after buying an additional 225,767 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Bank of America Trading Down 0.2 %

NYSE BAC traded down $0.08 during trading hours on Friday, reaching $37.83. The company’s stock had a trading volume of 28,668,680 shares, compared to its average volume of 40,953,860. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79. Bank of America Co. has a 52 week low of $24.96 and a 52 week high of $38.49. The firm has a fifty day simple moving average of $36.13 and a 200-day simple moving average of $32.72. The stock has a market cap of $298.50 billion, a P/E ratio of 13.09, a P/E/G ratio of 1.70 and a beta of 1.39.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.06. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The firm had revenue of $25.82 billion during the quarter, compared to analyst estimates of $25.49 billion. During the same quarter last year, the business earned $0.94 EPS. The company’s revenue was down 1.7% compared to the same quarter last year. Equities analysts forecast that Bank of America Co. will post 3.19 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, June 7th. This represents a $0.96 annualized dividend and a yield of 2.54%. Bank of America’s payout ratio is 33.22%.

Analyst Upgrades and Downgrades

BAC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Bank of America from $33.00 to $37.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. BMO Capital Markets raised their price target on shares of Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Evercore ISI raised their price target on shares of Bank of America from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Erste Group Bank upgraded shares of Bank of America from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Finally, Morgan Stanley upgraded shares of Bank of America from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $32.00 to $41.00 in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Bank of America currently has a consensus rating of “Hold” and a consensus target price 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.