Bank of America Co. (NYSE:BAC) Shares Sold by Ignite Planners LLC

Ignite Planners LLC trimmed its holdings in Bank of America Co. (NYSE:BAC) by 1.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,741 shares of the financial services provider’s stock after selling 243 shares during the quarter. Ignite Planners LLC’s holdings in Bank of America were worth $750,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in BAC. Tlwm raised its stake in Bank of America by 3.8% during the fourth quarter. Tlwm now owns 36,078 shares of the financial services provider’s stock worth $1,586,000 after purchasing an additional 1,315 shares during the period. GSG Advisors LLC acquired a new stake in shares of Bank of America during the 4th quarter worth approximately $201,000. Rosenberg Matthew Hamilton raised its position in shares of Bank of America by 2.9% during the 4th quarter. Rosenberg Matthew Hamilton now owns 9,618 shares of the financial services provider’s stock valued at $423,000 after buying an additional 270 shares during the period. Greenfield Savings Bank lifted its holdings in Bank of America by 0.8% in the fourth quarter. Greenfield Savings Bank now owns 39,947 shares of the financial services provider’s stock valued at $1,756,000 after acquiring an additional 313 shares during the last quarter. Finally, Gleason Group Inc. grew its position in Bank of America by 0.5% in the fourth quarter. Gleason Group Inc. now owns 98,957 shares of the financial services provider’s stock worth $4,349,000 after acquiring an additional 523 shares during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BAC has been the topic of several recent analyst reports. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price for the company in a research note on Friday, October 18th. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their price target for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. Wells Fargo & Company increased their price objective on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Keefe, Bruyette & Woods boosted their target price on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $47.50.

Bank of America Trading Down 0.0 %

NYSE BAC opened at $45.09 on Tuesday. Bank of America Co. has a 52 week low of $31.27 and a 52 week high of $48.08. The firm has a 50 day moving average of $45.61 and a two-hundred day moving average of $42.27. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $345.97 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 1.55 and a beta of 1.33.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.03. The business had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.25 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 EPS. As a group, research analysts expect that Bank of America Co. will post 3.27 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 6th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.04 annualized dividend and a yield of 2.31%. Bank of America’s dividend payout ratio is currently 37.82%.

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.