U.S. Capital Wealth Advisors LLC Sells 7,841 Shares of Bank of America Co. (NYSE:BAC)

U.S. Capital Wealth Advisors LLC reduced its position in shares of Bank of America Co. (NYSE:BAC - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 160,385 shares of the financial services provider's stock after selling 7,841 shares during the period. U.S. Capital Wealth Advisors LLC's holdings in Bank of America were worth $7,049,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BAC. Kennebec Savings Bank bought a new stake in shares of Bank of America in the third quarter valued at approximately $29,000. Highline Wealth Partners LLC raised its holdings in Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc lifted its position in shares of Bank of America by 525.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 852 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in shares of Bank of America during the 4th quarter worth $42,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Bank of America in the third quarter worth $45,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America Trading Up 1.1 %

Bank of America stock traded up $0.53 during trading hours on Tuesday, reaching $46.74. 5,766,473 shares of the company's stock were exchanged, compared to its average volume of 35,493,426. The firm has a market capitalization of $358.59 billion, a PE ratio of 14.51, a PEG ratio of 1.26 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm's 50 day simple moving average is $45.83 and its 200 day simple moving average is $42.77. Bank of America Co. has a twelve month low of $32.35 and a twelve month high of $48.08.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.05. The firm had revenue of $25.30 billion for the quarter, compared to analysts' expectations of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 EPS. Research analysts predict that Bank of America Co. will post 3.67 earnings per share for the current year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.23%. Bank of America's dividend payout ratio (DPR) is presently 32.30%.

Wall Street Analyst Weigh In

BAC has been the topic of a number of analyst reports. Hsbc Global Res upgraded shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. UBS Group raised shares of Bank of America from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. Citigroup upgraded Bank of America from a "neutral" rating to a "buy" rating and upped their target price for the stock from $46.00 to $54.00 in a research note on Friday, November 8th. HSBC upgraded 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. Finally, Phillip Securities upgraded Bank of America from a "neutral" rating to an "accumulate" rating and set a $44.00 price objective for the company in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently 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.