Sullivan Bruyette Speros & Blaney LLC Sells 11,680 Shares of Bank of America (BAC)

Sullivan Bruyette Speros & Blaney LLC lowered its stake in shares of Bank of America (NYSE:BAC) by 46.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 13,708 shares of the financial services provider’s stock after selling 11,680 shares during the period. Sullivan Bruyette Speros & Blaney LLC’s holdings in Bank of America were worth $405,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Altavista Wealth Management Inc. increased its stake in shares of Bank of America by 0.7% in the 2nd quarter. Altavista Wealth Management Inc. now owns 10,199 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 68 shares in the last quarter. First City Capital Management Inc. increased its stake in shares of Bank of America by 0.7% in the 2nd quarter. First City Capital Management Inc. now owns 66,982 shares of the financial services provider’s stock valued at $1,625,000 after purchasing an additional 453 shares in the last quarter. Gofen & Glossberg LLC IL increased its stake in shares of Bank of America by 1.6% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 33,823 shares of the financial services provider’s stock valued at $821,000 after purchasing an additional 521 shares in the last quarter. Miles Capital Inc. increased its stake in shares of Bank of America by 5.8% in the 2nd quarter. Miles Capital Inc. now owns 19,089 shares of the financial services provider’s stock valued at $463,000 after purchasing an additional 1,053 shares in the last quarter. Finally, Abbrea Capital LLC increased its stake in shares of Bank of America by 2.6% in the 4th quarter. Abbrea Capital LLC now owns 61,950 shares of the financial services provider’s stock valued at $1,829,000 after purchasing an additional 1,566 shares in the last quarter. Institutional investors and hedge funds own 69.85% of the company’s stock.

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NYSE:BAC opened at $29.80 on Monday. Bank of America has a 12 month low of $22.07 and a 12 month high of $33.05. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.93. The company has a market cap of $305,261.97, a price-to-earnings ratio of 16.37, a PEG ratio of 1.49 and a beta of 1.37.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.03. Bank of America had a return on equity of 8.54% and a net margin of 18.03%. The company had revenue of $20.69 billion during the quarter, compared to analyst estimates of $21.61 billion. During the same period in the previous year, the business earned $0.40 EPS. Bank of America’s quarterly revenue was up 3.5% on a year-over-year basis. equities research analysts forecast that Bank of America will post 2.5 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Friday, March 2nd were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, March 1st. This represents a $0.48 annualized dividend and a yield of 1.61%. Bank of America’s dividend payout ratio (DPR) is currently 26.23%.

Several brokerages recently weighed in on BAC. Vetr lowered Bank of America from a “buy” rating to a “hold” rating and set a $34.13 price target for the company. in a research note on Monday, March 12th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $35.00 price target on shares of Bank of America in a research note on Thursday, April 5th. Societe Generale lowered Bank of America from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. ValuEngine upgraded Bank of America from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Credit Suisse Group lifted their price target on Bank of America from $35.00 to $36.00 and gave the company an “outperform” rating in a research note on Friday, March 16th. Nine research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $30.97.

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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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

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

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