Seizert Capital Partners LLC Decreases Holdings in Bank of America Corporation (BAC)

Seizert Capital Partners LLC reduced its stake in shares of Bank of America Corporation (NYSE:BAC) by 1.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,400,662 shares of the financial services provider’s stock after selling 47,344 shares during the period. Bank of America Corporation comprises approximately 2.1% of Seizert Capital Partners LLC’s holdings, making the stock its 10th biggest position. Seizert Capital Partners LLC’s holdings in Bank of America Corporation were worth $58,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Terra Nova Asset Management LLC lifted its position in shares of Bank of America Corporation by 216.9% in the 1st quarter. Terra Nova Asset Management LLC now owns 141,165 shares of the financial services provider’s stock worth $3,330,000 after buying an additional 96,615 shares during the last quarter. NTV Asset Management LLC lifted its position in shares of Bank of America Corporation by 3.7% in the 1st quarter. NTV Asset Management LLC now owns 28,212 shares of the financial services provider’s stock worth $665,000 after buying an additional 1,000 shares during the last quarter. Altfest L J & Co. Inc. lifted its position in shares of Bank of America Corporation by 4.5% in the 1st quarter. Altfest L J & Co. Inc. now owns 28,304 shares of the financial services provider’s stock worth $668,000 after buying an additional 1,206 shares during the last quarter. Athena Capital Advisors LLC lifted its position in shares of Bank of America Corporation by 0.6% in the 1st quarter. Athena Capital Advisors LLC now owns 82,040 shares of the financial services provider’s stock worth $1,935,000 after buying an additional 450 shares during the last quarter. Finally, Maple Capital Management Inc. lifted its position in shares of Bank of America Corporation by 35.4% in the 1st quarter. Maple Capital Management Inc. now owns 116,467 shares of the financial services provider’s stock worth $2,747,000 after buying an additional 30,450 shares during the last quarter. 62.19% of the stock is owned by institutional investors.

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Bank of America Corporation (NYSE:BAC) opened at $26.24 on Wednesday. Bank of America Corporation has a 1 year low of $19.60 and a 1 year high of $27.98. The company has a market cap of $275,368.09, a P/E ratio of 15.09, a P/E/G ratio of 1.83 and a beta of 1.31. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.91.

Bank of America Corporation (NYSE:BAC) last announced its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.02. Bank of America Corporation had a net margin of 20.66% and a return on equity of 8.33%. The firm had revenue of $22.08 billion for the quarter, compared to the consensus estimate of $22.07 billion. During the same period in the previous year, the firm posted $0.41 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. equities analysts anticipate that Bank of America Corporation will post 1.8 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Thursday, November 30th. Bank of America Corporation’s dividend payout ratio (DPR) is presently 27.43%.

A number of research firms have recently issued reports on BAC. Vetr downgraded shares of Bank of America Corporation from a “hold” rating to a “sell” rating and set a $26.67 price target on the stock. in a research report on Monday, November 6th. J P Morgan Chase & Co raised their price target on shares of Bank of America Corporation from $27.50 to $28.50 and gave the stock an “overweight” rating in a research report on Wednesday, November 1st. BidaskClub upgraded shares of Bank of America Corporation from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 23rd. Citigroup Inc. restated a “neutral” rating and issued a $27.00 price target (up from $25.00) on shares of Bank of America Corporation in a research report on Monday, October 9th. Finally, Zacks Investment Research downgraded shares of Bank of America Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have given a buy rating and three have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $25.82.

About Bank of America Corporation

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.

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

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