Stamos Capital Partners L.P. Sells 44,200 Shares of Bank of America Co. (NYSE:BAC)

Stamos Capital Partners L.P. lessened its stake in Bank of America Co. (NYSE:BAC - Free Report) by 31.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 96,960 shares of the financial services provider's stock after selling 44,200 shares during the period. Bank of America accounts for 1.0% of Stamos Capital Partners L.P.'s portfolio, making the stock its 28th biggest holding. Stamos Capital Partners L.P.'s holdings in Bank of America were worth $4,261,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its position in Bank of America by 3.8% in the third quarter. Principal Financial Group Inc. now owns 15,415,630 shares of the financial services provider's stock worth $611,692,000 after purchasing an additional 569,385 shares during the period. Morse Asset Management Inc acquired a new stake in shares of Bank of America in the third quarter valued at $306,000. SkyView Investment Advisors LLC boosted its stake in Bank of America by 4.3% during the third quarter. SkyView Investment Advisors LLC now owns 15,602 shares of the financial services provider's stock valued at $619,000 after buying an additional 645 shares in the last quarter. Tudor Financial Inc. acquired a new position in Bank of America during the third quarter worth about $645,000. Finally, Eaton Financial Holdings Company LLC bought a new stake in Bank of America in the third quarter worth about $488,000. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Stock Up 3.7 %

BAC stock traded up $1.36 during midday trading on Tuesday, reaching $38.03. The company had a trading volume of 84,614,170 shares, compared to its average volume of 39,392,816. The company has a 50 day moving average of $41.85 and a two-hundred day moving average of $43.66. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 1 year low of $33.07 and a 1 year high of $48.08. The company has a market capitalization of $289.16 billion, a P/E ratio of 11.81, a PEG ratio of 1.21 and a beta of 1.24.

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

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.73%. Bank of America's payout ratio is 32.30%.

Analysts Set New Price Targets

Several research firms have recently weighed in on BAC. Robert W. Baird upgraded shares of Bank of America from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $45.00 to $50.00 in a research report on Friday, March 7th. HSBC upgraded shares of Bank of America from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a report on Tuesday, January 7th. Evercore ISI decreased their price target on shares of Bank of America from $51.00 to $48.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. JPMorgan Chase & Co. cut their price objective on Bank of America from $49.50 to $43.50 and set an "overweight" rating for the company in a research report on Thursday, April 3rd. Finally, Hsbc Global Res upgraded Bank of America from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 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 three have assigned a strong buy rating to the stock. According to MarketBeat.com, Bank of America has a consensus rating of "Moderate Buy" and a consensus price target of $48.31.

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.