Bank of America Co. (NYSE:BAC) Shares Sold by Blue Fin Capital Inc.

Blue Fin Capital Inc. decreased its holdings in Bank of America Co. (NYSE:BAC) by 3.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 54,679 shares of the financial services provider’s stock after selling 2,229 shares during the period. Blue Fin Capital Inc.’s holdings in Bank of America were worth $1,841,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Fortis Group Advisors LLC purchased a new stake in shares of Bank of America in the 3rd quarter valued at approximately $25,000. Criterion Capital Advisors LLC purchased a new stake in shares of Bank of America in the 4th quarter valued at approximately $32,000. Glass Jacobson Investment Advisors llc grew its stake in shares of Bank of America by 98.1% in the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock valued at $28,000 after buying an additional 504 shares during the period. ZRC Wealth Management LLC grew its stake in shares of Bank of America by 192.3% in the 4th quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock valued at $38,000 after buying an additional 750 shares during the period. Finally, Private Ocean LLC grew its stake in shares of 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 valued at $43,000 after buying an additional 325 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Up 1.0 %

NYSE:BAC traded up $0.37 during midday trading on Friday, hitting $37.25. 34,082,662 shares of the company were exchanged, compared to its average volume of 41,339,492. The company has a fifty day simple moving average of $36.46 and a 200 day simple moving average of $33.08. Bank of America Co. has a fifty-two week low of $24.96 and a fifty-two week high of $38.49. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $291.31 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 1.66 and a beta of 1.37.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (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 for the quarter, compared to the consensus estimate of $25.49 billion. During the same period last year, the firm posted $0.94 EPS. Bank of America’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities analysts anticipate that Bank of America Co. will post 3.21 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Friday, June 7th. Bank of America’s payout ratio is currently 33.22%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. HSBC reissued a “hold” rating and issued a $39.00 price target (up previously from $38.00) on shares of Bank of America in a research note on Thursday, March 28th. Odeon Capital Group cut shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 price objective for the company. in a research report on Tuesday, January 16th. Wells Fargo & Company raised their price target on shares of Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Citigroup raised their price target on shares of Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Finally, UBS Group restated a “neutral” rating and issued a $40.00 price objective (up from $39.00) on shares of Bank of America in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $38.70.

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.