O ROURKE & COMPANY Inc Sells 673 Shares of Bank of America Co. (NYSE:BAC)

O ROURKE & COMPANY Inc trimmed its holdings in Bank of America Co. (NYSE:BAC) by 5.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,728 shares of the financial services provider’s stock after selling 673 shares during the period. O ROURKE & COMPANY Inc’s holdings in Bank of America were worth $515,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Collier Financial bought a new stake in shares of Bank of America during the fourth quarter valued at approximately $25,000. Life Planning Partners Inc increased its position in Bank of America by 3,883.2% during the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 545,936 shares during the period. Graney & King LLC bought a new stake in shares of Bank of America in the 4th quarter valued at about $25,000. Fairway Wealth LLC purchased a new stake in Bank of America during the fourth quarter worth $29,000. Finally, Glass Jacobson Investment Advisors llc lifted its stake in shares of Bank of America by 53.0% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BAC. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and raised their target price for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Barclays increased their price target on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, January 7th. Finally, Evercore ISI reduced their price target on Bank of America from $51.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.31.

Bank of America Price Performance

Bank of America stock opened at $35.93 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 52-week low of $33.07 and a 52-week high of $48.08. The firm has a market cap of $273.20 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 1.21 and a beta of 1.24. The company’s 50 day moving average is $42.25 and its two-hundred day moving average is $43.69.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. During the same period last year, the firm earned $0.70 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, research analysts expect that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Friday, March 7th. Bank of America’s dividend payout ratio is presently 32.30%.

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.