Duncker Streett & Co. Inc. Cuts Position in Bank of America Co. (NYSE:BAC)

Duncker Streett & Co. Inc. trimmed its position in shares of Bank of America Co. (NYSE:BAC) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,336 shares of the financial services provider’s stock after selling 3,899 shares during the period. Duncker Streett & Co. Inc.’s holdings in Bank of America were worth $1,627,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BAC. Roundview Capital LLC boosted its holdings in Bank of America by 1.5% in the first quarter. Roundview Capital LLC now owns 135,764 shares of the financial services provider’s stock valued at $5,596,000 after purchasing an additional 2,013 shares in the last quarter. Loomis Sayles & Co. L P boosted its holdings in shares of Bank of America by 150.3% in the first quarter. Loomis Sayles & Co. L P now owns 1,985 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 1,192 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Bank of America by 4.2% during the first quarter. NewEdge Advisors LLC now owns 405,098 shares of the financial services provider’s stock worth $16,698,000 after purchasing an additional 16,319 shares during the period. First Western Trust Bank purchased a new position in Bank of America during the 1st quarter worth $586,000. Finally, Pearl River Capital LLC purchased a new stake in shares of Bank of America in the first quarter valued at about $534,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Trading Down 3.5 %

BAC traded down $1.27 during trading on Wednesday, hitting $34.68. 95,566,094 shares of the company’s stock were exchanged, compared to its average volume of 35,278,272. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. Bank of America Co. has a 1 year low of $24.96 and a 1 year high of $38.35. The stock has a 50 day moving average price of $35.51 and a 200 day moving average price of $32.19. The firm has a market cap of $273.65 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 1.64 and a beta of 1.39.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.96 annualized dividend and a yield of 2.77%. Bank of America’s dividend payout ratio is currently 31.27%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BAC. Wells Fargo & Company lifted their target price 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. BMO Capital Markets reduced their price objective on shares of Bank of America from $37.00 to $36.00 and set a “market perform” rating for the company in a research note on Tuesday, January 16th. Oppenheimer reduced their price objective on shares of Bank of America from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Tuesday, March 19th. Jefferies Financial Group raised their price objective on shares of Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Finally, Barclays lifted their target price on shares of Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.29.

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.