Capital Advisors Ltd. LLC Has $246,000 Holdings in Bank of America Co. (NYSE:BAC)

Capital Advisors Ltd. LLC lowered its stake in shares of Bank of America Co. (NYSE:BAC) by 7.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,305 shares of the financial services provider’s stock after selling 550 shares during the quarter. Capital Advisors Ltd. LLC’s holdings in Bank of America were worth $246,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Regent Peak Wealth Advisors LLC lifted its holdings in Bank of America by 3.2% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 9,976 shares of the financial services provider’s stock worth $336,000 after buying an additional 314 shares during the period. Kennedy Investment Group lifted its holdings in Bank of America by 0.6% in the 4th quarter. Kennedy Investment Group now owns 58,007 shares of the financial services provider’s stock worth $1,953,000 after buying an additional 321 shares during the period. Private Ocean LLC lifted its holdings in Bank of America by 34.0% in the 4th quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock worth $43,000 after buying an additional 325 shares during the period. Selective Wealth Management Inc. lifted its holdings in Bank of America by 2.0% in the 4th quarter. Selective Wealth Management Inc. now owns 17,351 shares of the financial services provider’s stock worth $586,000 after buying an additional 334 shares during the period. Finally, Morton Capital Management LLC CA lifted its holdings in Bank of America by 3.3% in the 4th quarter. Morton Capital Management LLC CA now owns 10,628 shares of the financial services provider’s stock worth $358,000 after buying an additional 341 shares during the period. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Down 1.5 %

Shares of BAC stock traded down $0.57 during mid-day trading on Thursday, hitting $37.75. The company’s stock had a trading volume of 16,890,523 shares, compared to its average volume of 41,281,598. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $38.49. The business has a 50-day moving average price of $35.98 and a 200 day moving average price of $32.61. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market cap of $297.87 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 1.73 and a beta of 1.39.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.06. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The firm had revenue of $25.82 billion during the quarter, compared to analysts’ expectations of $25.49 billion. During the same quarter in the previous year, the business earned $0.94 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. Research analysts predict that Bank of America Co. will post 3.18 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, February 29th. Bank of America’s dividend payout ratio is currently 33.22%.

Wall Street Analysts Forecast Growth

BAC has been the topic of several research reports. HSBC restated a “hold” rating and set a $39.00 price target (up from $38.00) on shares of Bank of America in a research report on Thursday, March 28th. Citigroup lifted their price target on Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. BMO Capital Markets lifted their price target on Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Oppenheimer dropped their price target on Bank of America from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Finally, Morgan Stanley upgraded Bank of America from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $32.00 to $41.00 in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Bank of America presently has an average rating of “Hold” and a consensus price target of $38.53.

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.