Bank of America Co. (NYSE:BAC) Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. cut its position in Bank of America Co. (NYSE:BAC - Free Report) by 3.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 264,573 shares of the financial services provider's stock after selling 9,114 shares during the quarter. Hantz Financial Services Inc.'s holdings in Bank of America were worth $11,628,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Forsta AP Fonden raised its position in shares of Bank of America by 0.4% during the fourth quarter. Forsta AP Fonden now owns 1,744,100 shares of the financial services provider's stock worth $76,653,000 after acquiring an additional 7,200 shares during the last quarter. Foster Victor Wealth Advisors LLC increased its stake in Bank of America by 3.9% in the fourth quarter. Foster Victor Wealth Advisors LLC now owns 12,588 shares of the financial services provider's stock valued at $586,000 after purchasing an additional 470 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Bank of America by 2.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 9,667,345 shares of the financial services provider's stock valued at $424,880,000 after acquiring an additional 269,390 shares during the period. Sumitomo Life Insurance Co. lifted its stake in shares of Bank of America by 9.9% in the fourth quarter. Sumitomo Life Insurance Co. now owns 179,185 shares of the financial services provider's stock valued at $7,875,000 after buying an additional 16,159 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Bank of America in the 4th quarter worth about $84,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America Stock Down 0.2 %

Shares of BAC traded down $0.11 during midday trading on Wednesday, reaching $46.74. 23,672,647 shares of the stock were exchanged, compared to its average volume of 37,657,961. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The company's 50 day moving average is $45.83 and its two-hundred day moving average is $42.70. The company has a market capitalization of $358.59 billion, a P/E ratio of 14.51, a PEG ratio of 1.24 and a beta of 1.33. Bank of America Co. has a 52 week low of $32.35 and a 52 week high of $48.08.

Bank of America (NYSE:BAC - Get Free Report) last posted its earnings results 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 net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter last year, the firm posted $0.70 EPS. The company's revenue for the quarter was up 15.0% on a year-over-year basis. On average, sell-side analysts anticipate that Bank of America Co. will post 3.67 earnings per share for the current year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.23%. Bank of America's dividend payout ratio is presently 32.30%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BAC. StockNews.com raised Bank of America from a "sell" rating to a "hold" rating in a research report on Wednesday, October 16th. Evercore ISI lowered their price target on Bank of America from $53.00 to $51.00 and set an "outperform" rating on the stock in a report on Friday, January 17th. Oppenheimer lifted their price target on shares of Bank of America from $54.00 to $55.00 and gave the stock an "outperform" rating in a research note on Friday, January 17th. Citigroup raised shares of Bank of America from a "neutral" rating to a "buy" rating and increased their price target for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Finally, Morgan Stanley upped their price objective on shares of Bank of America from $54.00 to $56.00 and gave the stock an "equal weight" rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.