Uncommon Cents Investing LLC Sells 1,573 Shares of Bank of America Co. (NYSE:BAC)

Uncommon Cents Investing LLC lessened its position in shares of Bank of America Co. (NYSE:BAC) by 6.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,713 shares of the financial services provider’s stock after selling 1,573 shares during the period. Uncommon Cents Investing LLC’s holdings in Bank of America were worth $832,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of BAC. Buckingham Strategic Partners raised its stake in Bank of America by 23.7% in the second quarter. Buckingham Strategic Partners now owns 54,963 shares of the financial services provider’s stock valued at $1,577,000 after purchasing an additional 10,535 shares in the last quarter. Schechter Investment Advisors LLC raised its position in shares of Bank of America by 8.2% during the 3rd quarter. Schechter Investment Advisors LLC now owns 55,348 shares of the financial services provider’s stock valued at $1,515,000 after buying an additional 4,187 shares in the last quarter. Eastern Bank lifted its holdings in shares of Bank of America by 354.5% during the 3rd quarter. Eastern Bank now owns 119,713 shares of the financial services provider’s stock worth $3,278,000 after acquiring an additional 93,375 shares during the last quarter. Stonebridge Capital Advisors LLC grew its position in Bank of America by 3.7% in the third quarter. Stonebridge Capital Advisors LLC now owns 65,495 shares of the financial services provider’s stock worth $1,793,000 after acquiring an additional 2,332 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC increased its stake in Bank of America by 228.3% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 67,511 shares of the financial services provider’s stock valued at $2,273,000 after acquiring an additional 46,950 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BAC shares. BMO Capital Markets cut their price objective on Bank of America from $37.00 to $36.00 and set a “market perform” rating for the company in a report on Tuesday, January 16th. The Goldman Sachs Group boosted their price objective on shares of Bank of America from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, December 1st. Citigroup increased their target price on shares of Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Barclays boosted their price target on shares of Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Morgan Stanley upgraded Bank of America from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $32.00 to $41.00 in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.15.

Bank of America Trading Up 0.3 %

BAC stock traded up $0.11 during trading on Thursday, reaching $37.92. The company had a trading volume of 42,116,296 shares, compared to its average volume of 41,135,176. Bank of America Co. has a 52 week low of $24.96 and a 52 week high of $38.00. The company has a market cap 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 has a 50 day moving average of $34.47 and a 200 day moving average of $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 released its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Bank of America had a net margin of 15.42% and a return on equity of 11.38%. The company had revenue of $22 billion during the quarter, compared to the consensus estimate of $23.70 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. Bank of America’s revenue was down 10.2% on a year-over-year basis. As a group, sell-side analysts forecast that Bank of America Co. will post 3.11 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 1st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, February 29th. Bank of America’s payout ratio is currently 31.27%.

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 in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.