AM Investment Strategies LLC Has $569,000 Position in Bank of America Co. (NYSE:BAC)

AM Investment Strategies LLC lowered its position in shares of Bank of America Co. (NYSE:BAC) by 69.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,911 shares of the financial services provider’s stock after selling 37,832 shares during the quarter. AM Investment Strategies LLC’s holdings in Bank of America were worth $569,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of BAC. Impact Partnership Wealth LLC boosted its holdings in shares of Bank of America by 879.9% in the 3rd quarter. Impact Partnership Wealth LLC now owns 2,244 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 2,015 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Bank of America by 1,235.4% in the third quarter. Exchange Traded Concepts LLC now owns 75,531 shares of the financial services provider’s stock valued at $2,068,000 after purchasing an additional 69,875 shares during the last quarter. Strategic Blueprint LLC increased its holdings in shares of Bank of America by 13.0% in the third quarter. Strategic Blueprint LLC now owns 15,050 shares of the financial services provider’s stock worth $412,000 after purchasing an additional 1,737 shares during the period. CX Institutional increased its stake in Bank of America by 11.7% in the third quarter. CX Institutional now owns 37,026 shares of the financial services provider’s stock valued at $1,014,000 after acquiring an additional 3,892 shares during the last quarter. Finally, Ballast Inc. boosted its position in Bank of America by 11.0% during the third quarter. Ballast Inc. now owns 41,723 shares of the financial services provider’s stock valued at $1,142,000 after buying an additional 4,132 shares during the period. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of analyst reports. Oppenheimer decreased their target price on shares of Bank of America from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, April 17th. UBS Group reissued a “neutral” rating and set a $40.00 price target (up previously from $39.00) on shares of Bank of America in a research report on Thursday, April 4th. Citigroup raised their target price on shares of Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Wolfe Research upgraded shares of Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a report on Friday, April 19th. Finally, BMO Capital Markets lifted their price target on shares of Bank of America from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $38.53.

Bank of America Trading Down 1.1 %

BAC stock traded down $0.41 during trading on Thursday, reaching $37.91. 40,957,844 shares of the stock were exchanged, compared to its average volume of 41,603,840. The business has a 50 day moving average price of $36.06 and a 200-day moving average price of $32.64. The firm has a market capitalization of $299.13 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 1.73 and a beta of 1.39. Bank of America Co. has a 1 year low of $24.96 and a 1 year high of $38.49. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.77 by $0.06. The firm had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. Bank of America’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.94 EPS. On average, research analysts predict that Bank of America Co. will post 3.18 earnings per share for the current year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.53%. Bank of America’s payout ratio is 33.22%.

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.