IHT Wealth Management LLC Has $5.39 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

IHT Wealth Management LLC lessened its stake in shares of Bank of America Co. (NYSE:BAC - Free Report) by 9.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 122,630 shares of the financial services provider's stock after selling 12,218 shares during the quarter. IHT Wealth Management LLC's holdings in Bank of America were worth $5,390,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Collier Financial bought a new stake in shares of Bank of America in the 4th quarter worth $25,000. Life Planning Partners Inc raised its position in Bank of America by 3,883.2% in the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider's stock worth $25,000 after acquiring an additional 545,936 shares in the last quarter. Graney & King LLC acquired a new stake in Bank of America in the 4th quarter valued at about $25,000. Fairway Wealth LLC bought a new position in shares of Bank of America during the 4th quarter valued at about $29,000. Finally, Glass Jacobson Investment Advisors llc grew its stake in shares of Bank of America by 53.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider's stock worth $35,000 after purchasing an additional 276 shares during the last quarter. Institutional investors own 70.71% of the company's stock.

Bank of America Stock Up 1.3 %

NYSE:BAC traded up $0.49 during trading hours on Wednesday, reaching $38.81. The company's stock had a trading volume of 54,396,997 shares, compared to its average volume of 39,096,375. Bank of America Co. has a one year low of $33.07 and a one year high of $48.08. The business's 50-day moving average is $40.77 and its 200-day moving average is $43.56. The company has a market cap of $295.06 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 1.21 and a beta of 1.24. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. The business had revenue of $27.37 billion during the quarter, compared to analysts' expectations of $26.83 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. Equities research analysts predict that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.68%. Bank of America's dividend payout ratio is 30.95%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods reduced their price objective on Bank of America from $55.00 to $52.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Cfra Research upped their price objective on shares of Bank of America to $47.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. HSBC raised shares of Bank of America from a "hold" rating to a "buy" rating and set a $50.00 target price on the stock in a research report on Tuesday, January 7th. UBS Group upped their price target on shares of Bank of America from $46.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Finally, Baird R W upgraded shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, Bank of America currently has an average rating of "Moderate Buy" and a consensus target price of $47.43.

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.