Diversify Advisory Services LLC Reduces Holdings in Bank of America Co. (NYSE:BAC)

Diversify Advisory Services LLC trimmed its position in Bank of America Co. (NYSE:BAC - Free Report) by 18.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,980 shares of the financial services provider's stock after selling 17,777 shares during the quarter. Diversify Advisory Services LLC's holdings in Bank of America were worth $3,653,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BAC. Traveka Wealth LLC raised its position in shares of Bank of America by 2.7% in the fourth quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider's stock valued at $382,000 after purchasing an additional 226 shares during the period. Longfellow Investment Management Co. LLC raised its holdings in Bank of America by 0.6% during the 3rd quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider's stock valued at $1,484,000 after acquiring an additional 227 shares during the period. Beacon Investment Advisory Services Inc. lifted its position in shares of Bank of America by 1.1% during the third quarter. Beacon Investment Advisory Services Inc. now owns 20,863 shares of the financial services provider's stock worth $828,000 after acquiring an additional 231 shares in the last quarter. Integrity Financial Corp WA boosted its holdings in shares of Bank of America by 1.6% in the third quarter. Integrity Financial Corp WA now owns 14,875 shares of the financial services provider's stock worth $590,000 after acquiring an additional 240 shares during the period. Finally, Cahill Financial Advisors Inc. grew its position in shares of Bank of America by 2.1% in the third quarter. Cahill Financial Advisors Inc. now owns 12,231 shares of the financial services provider's stock valued at $485,000 after purchasing an additional 249 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Bank of America Trading Down 0.2 %

Bank of America stock traded down $0.10 during mid-day trading on Monday, hitting $46.54. The company's stock had a trading volume of 44,307,437 shares, compared to its average volume of 26,125,426. The business has a 50 day moving average price of $45.79 and a 200-day moving average price of $42.44. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. Bank of America Co. has a 12 month low of $31.40 and a 12 month high of $48.08. The stock has a market cap of $357.13 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33.

Bank of America (NYSE:BAC - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The firm's revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 earnings per share. As a group, analysts forecast that Bank of America Co. will post 3.24 EPS for the current year.

Analysts Set New Price Targets

BAC has been the subject of several analyst reports. Morgan Stanley raised their target price on Bank of America from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Friday. Barclays raised their price objective on shares of Bank of America from $53.00 to $58.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $46.00 target price on shares of Bank of America in a report on Wednesday, October 9th. Evercore ISI cut their price target on shares of Bank of America from $53.00 to $51.00 and set an "outperform" rating for the company in a report on Friday. Finally, Citigroup raised shares of Bank of America from a "neutral" rating to a "buy" rating and upped their price target for the stock from $46.00 to $54.00 in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $48.58.

Bank of America 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.