Bank of America Co. (NYSE:BAC) Shares Sold by Bank of New Hampshire

Bank of New Hampshire lowered its position in shares of Bank of America Co. (NYSE:BAC) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 93,933 shares of the financial services provider’s stock after selling 432 shares during the quarter. Bank of New Hampshire’s holdings in Bank of America were worth $3,163,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Northern Trust Corp boosted its holdings in shares of Bank of America by 2.1% in the 3rd quarter. Northern Trust Corp now owns 67,648,727 shares of the financial services provider’s stock valued at $1,852,222,000 after purchasing an additional 1,397,469 shares during the last quarter. Barclays PLC boosted its holdings in shares of Bank of America by 97.3% in the 3rd quarter. Barclays PLC now owns 41,290,694 shares of the financial services provider’s stock valued at $1,130,538,000 after buying an additional 20,362,295 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Bank of America by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 40,518,019 shares of the financial services provider’s stock valued at $1,109,383,000 after buying an additional 746,756 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Bank of America by 5.9% in the 4th quarter. California Public Employees Retirement System now owns 22,538,500 shares of the financial services provider’s stock valued at $758,871,000 after buying an additional 1,250,096 shares during the period. Finally, Pzena Investment Management LLC boosted its stake in Bank of America by 28.7% during the 3rd quarter. Pzena Investment Management LLC now owns 19,430,142 shares of the financial services provider’s stock valued at $531,997,000 after purchasing an additional 4,335,882 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on BAC shares. BMO Capital Markets boosted their price target on shares of Bank of America from $36.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Wolfe Research upgraded shares of Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Friday, April 19th. HSBC reaffirmed a “hold” rating and set a $39.00 price objective (up from $38.00) on shares of Bank of America in a research report on Thursday, March 28th. Oppenheimer lowered their price objective on shares of 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, Citigroup boosted their target price on shares of Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. One 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 data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $38.53.

Bank of America Price Performance

Shares of BAC stock traded up $0.18 on Friday, reaching $38.09. The company had a trading volume of 10,735,154 shares, compared to its average volume of 41,217,609. The business’s 50-day moving average is $36.06 and its 200 day moving average is $32.64. Bank of America Co. has a one year low of $24.96 and a one year high of $38.49. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $300.55 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 1.72 and a beta of 1.39.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.77 by $0.06. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The company had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $25.49 billion. During the same quarter last year, the firm posted $0.94 EPS. The company’s quarterly revenue was down 1.7% on a year-over-year basis. Equities research analysts forecast that Bank of America Co. will post 3.19 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.52%. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.

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.