Good Life Advisors LLC Sells 5,672 Shares of Bank of America Co. (NYSE:BAC)

Good Life Advisors LLC reduced its holdings in Bank of America Co. (NYSE:BAC - Free Report) by 17.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,040 shares of the financial services provider's stock after selling 5,672 shares during the period. Good Life Advisors LLC's holdings in Bank of America were worth $1,188,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Two Sigma Advisers LP increased its position in shares of Bank of America by 31,021.6% during the third quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider's stock valued at $405,049,000 after purchasing an additional 10,175,100 shares during the period. Swedbank AB increased its position in shares of Bank of America by 81.4% during the fourth quarter. Swedbank AB now owns 12,776,184 shares of the financial services provider's stock valued at $561,513,000 after purchasing an additional 5,733,810 shares during the period. KBC Group NV increased its position in shares of Bank of America by 130.9% during the fourth quarter. KBC Group NV now owns 9,692,279 shares of the financial services provider's stock valued at $425,976,000 after purchasing an additional 5,493,817 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Bank of America by 193.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider's stock valued at $301,898,000 after purchasing an additional 5,015,378 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Bank of America by 3,550.7% during the third quarter. International Assets Investment Management LLC now owns 4,547,788 shares of the financial services provider's stock valued at $1,804,560,000 after purchasing an additional 4,423,215 shares during the period. 70.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. Citigroup raised Bank of America from a "neutral" rating to a "buy" rating and boosted their price target for the company from $46.00 to $54.00 in a research note on Friday, November 8th. HSBC raised Bank of America from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company boosted their price target 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. UBS Group raised Bank of America from a "neutral" rating to a "buy" rating and boosted their price target for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. Finally, Morgan Stanley boosted their price target on Bank of America from $54.00 to $56.00 and gave the company an "equal weight" rating in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $48.58.

Bank of America Trading Down 1.2 %

Shares of BAC stock traded down $0.55 on Friday, reaching $44.76. 24,974,984 shares of the stock were exchanged, compared to its average volume of 34,494,871. The stock has a market cap of $343.40 billion, a PE ratio of 13.89, a P/E/G ratio of 1.24 and a beta of 1.33. Bank of America Co. has a one year low of $33.37 and a one year high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a 50 day moving average price of $45.77 and a 200 day moving average price of $43.27.

Bank of America (NYSE:BAC - Get Free Report) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm's quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.70 earnings per share. Equities research analysts forecast that Bank of America Co. will post 3.69 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.32%. Bank of America's dividend payout ratio is presently 32.30%.

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.