Alpha Omega Wealth Management LLC Sells 895 Shares of Bank of America Co. (NYSE:BAC)

Alpha Omega Wealth Management LLC trimmed its holdings in Bank of America Co. (NYSE:BAC) by 3.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,908 shares of the financial services provider’s stock after selling 895 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Bank of America were worth $973,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BAC. Fortis Group Advisors LLC bought a new stake in Bank of America in the third quarter worth $25,000. Glass Jacobson Investment Advisors llc raised its holdings in Bank of America by 98.1% during the third quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock valued at $28,000 after buying an additional 504 shares in the last quarter. Castleview Partners LLC bought a new stake in shares of Bank of America during the 1st quarter worth about $28,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Bank of America during the 1st quarter valued at about $34,000. Finally, ZRC Wealth Management LLC raised its stake in shares of Bank of America by 192.3% in the 4th quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 750 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on BAC. HSBC reiterated a “hold” rating and set a $39.00 price target (up previously from $38.00) on shares of Bank of America in a report on Thursday, March 28th. 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 note on Tuesday, January 16th. Morgan Stanley upgraded shares of Bank of America from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $32.00 to $41.00 in a report on Tuesday, January 30th. Wells Fargo & Company upped their price target on shares of Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Finally, BMO Capital Markets dropped their price objective on Bank of America from $37.00 to $36.00 and set a “market perform” rating on the stock in a research note on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Bank of America has an average rating of “Hold” and a consensus target price of $38.29.

Bank of America Stock Performance

Bank of America stock traded up $0.95 during trading hours on Wednesday, hitting $35.63. The stock had a trading volume of 34,759,518 shares, compared to its average volume of 41,099,602. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. Bank of America Co. has a fifty-two week low of $24.96 and a fifty-two week high of $38.35. The company has a market cap of $281.14 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.64 and a beta of 1.39. The company has a 50-day moving average of $35.51 and a two-hundred day moving average of $32.19.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Thursday, February 29th. Bank of America’s dividend payout ratio is 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.