Advisor OS LLC Sells 10,391 Shares of Bank of America Co. (NYSE:BAC)

Advisor OS LLC trimmed its stake in shares of Bank of America Co. (NYSE:BAC - Free Report) by 20.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,222 shares of the financial services provider's stock after selling 10,391 shares during the quarter. Advisor OS LLC's holdings in Bank of America were worth $1,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Accent Capital Management LLC boosted its position in shares of Bank of America by 43.0% during the third quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider's stock valued at $1,567,000 after purchasing an additional 11,873 shares in the last quarter. Summit Global Investments boosted its position in shares of Bank of America by 237.6% during the third quarter. Summit Global Investments now owns 51,278 shares of the financial services provider's stock valued at $2,035,000 after purchasing an additional 36,089 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Bank of America by 1.2% during the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider's stock valued at $5,546,871,000 after purchasing an additional 1,700,141 shares in the last quarter. Clarendon Private LLC bought a new stake in shares of Bank of America during the fourth quarter valued at approximately $798,000. Finally, Baker Avenue Asset Management LP boosted its position in shares of Bank of America by 125.8% during the third quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider's stock valued at $2,421,000 after purchasing an additional 33,983 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

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Bank of America Stock Up 4.7 %

Shares of BAC stock traded up $2.07 during mid-day trading on Friday, hitting $46.19. The company's stock had a trading volume of 62,603,810 shares, compared to its average volume of 35,632,469. Bank of America Co. has a 52-week low of $34.03 and a 52-week high of $48.08. The business has a 50-day moving average price of $45.78 and a 200 day moving average price of $43.56. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market cap of $354.37 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.21 and a beta of 1.33.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $25.30 billion during the quarter, compared to analysts' expectations of $25.12 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. Bank of America's revenue for the quarter was up 15.0% compared to the same quarter last year. Research analysts predict that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.25%. The ex-dividend date is Friday, March 7th. Bank of America's dividend payout ratio is presently 32.30%.

Analyst Upgrades and Downgrades

BAC has been the topic of several research reports. Barclays lifted their price target on Bank of America from $53.00 to $58.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Hsbc Global Res upgraded Bank of America from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. UBS Group upgraded Bank of America from a "neutral" rating to a "buy" rating and lifted their price target for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. Oppenheimer lifted their price target on Bank of America from $54.00 to $55.00 and gave the company an "outperform" rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company lifted their price objective on Bank of America from $52.00 to $56.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $48.58.

Bank of America Company Profile

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.