LGL Partners LLC Decreases Position in Bank of America Corp (BAC)

LGL Partners LLC reduced its stake in Bank of America Corp (NYSE:BAC) by 10.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 16,749 shares of the financial services provider’s stock after selling 2,000 shares during the period. LGL Partners LLC’s holdings in Bank of America Corp were worth $370,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Smith Chas P & Associates PA Cpas raised its stake in Bank of America Corp by 17.2% in the third quarter. Smith Chas P & Associates PA Cpas now owns 19,879 shares of the financial services provider’s stock worth $338,000 after buying an additional 2,913 shares in the last quarter. FNY Managed Accounts LLC purchased a new stake in Bank of America Corp during the third quarter worth about $1,467,000. Graybill Bartz & Assoc Ltd. raised its stake in Bank of America Corp by 1.1% in the third quarter. Graybill Bartz & Assoc Ltd. now owns 180,381 shares of the financial services provider’s stock worth $2,823,000 after buying an additional 2,030 shares in the last quarter. BKD Wealth Advisors LLC raised its stake in Bank of America Corp by 29.4% in the third quarter. BKD Wealth Advisors LLC now owns 43,150 shares of the financial services provider’s stock worth $675,000 after buying an additional 9,816 shares in the last quarter. Finally, Rothschild Investment Corp IL raised its stake in Bank of America Corp by 5.2% in the third quarter. Rothschild Investment Corp IL now owns 370,451 shares of the financial services provider’s stock worth $5,798,000 after buying an additional 18,477 shares in the last quarter. 63.95% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Bank of America Corp (NYSE:BAC)

Shares of Bank of America Corp (NYSE:BAC) traded up 1.341% during mid-day trading on Thursday, reaching $23.045. The company’s stock had a trading volume of 41,209,477 shares. Bank of America Corp has a 52-week low of $12.05 and a 52-week high of $25.80. The firm has a market cap of $242.35 billion, a price-to-earnings ratio of 15.394 and a beta of 1.47. The firm has a 50 day moving average price of $23.95 and a 200 day moving average price of $21.61. Bank of America Corp also saw some unusual options trading on Monday. Stock traders purchased 158,284 call options on the stock. This is an increase of 344% compared to the typical volume of 35,631 call options.

Bank of America Corp (NYSE:BAC) last announced its quarterly earnings data on Tuesday, April 18th. The financial services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.06. Bank of America Corp had a return on equity of 6.85% and a net margin of 18.10%. The business earned $22.45 billion during the quarter, compared to analyst estimates of $21.77 billion. During the same period in the prior year, the company earned $0.28 earnings per share. Bank of America Corp’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts predict that Bank of America Corp will post $1.77 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 3rd were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Wednesday, March 1st. Bank of America Corp’s dividend payout ratio (DPR) is 21.74%.

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BAC has been the subject of a number of recent analyst reports. Morgan Stanley reissued a “buy” rating and set a $17.00 price target on shares of Bank of America Corp in a research report on Wednesday, January 11th. Jefferies Group LLC reissued a “buy” rating and set a $24.00 price target on shares of Bank of America Corp in a research report on Wednesday, January 11th. Instinet reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Bank of America Corp in a report on Wednesday, January 11th. FBR & Co reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Bank of America Corp in a report on Wednesday, January 11th. Finally, Credit Suisse Group AG reissued a “buy” rating and set a $19.00 price target on shares of Bank of America Corp in a report on Wednesday, January 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $22.30.

Bank of America Corp Company Profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.

5 Day Chart for NYSE:BAC

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