Shufro Rose & Co. LLC Sells 1,510 Shares of Bank of America Co. (NYSE:BAC)

Shufro Rose & Co. LLC reduced its holdings in Bank of America Co. (NYSE:BAC) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,949 shares of the financial services provider’s stock after selling 1,510 shares during the period. Shufro Rose & Co. LLC’s holdings in Bank of America were worth $1,648,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fortis Group Advisors LLC bought a new position in shares of Bank of America during the third quarter worth approximately $25,000. Glass Jacobson Investment Advisors llc boosted its holdings in shares of Bank of America by 98.1% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 504 shares in the last quarter. Criterion Capital Advisors LLC bought a new stake in Bank of America during the 4th quarter worth $32,000. ZRC Wealth Management LLC raised its holdings in Bank of America by 192.3% in the 4th quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock valued at $38,000 after buying an additional 750 shares during the last quarter. Finally, Private Ocean LLC increased its position in Bank of America by 34.0% in the 4th quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 325 shares during the period. Institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of BAC stock traded down $0.08 during trading on Friday, hitting $37.83. The company had a trading volume of 28,668,680 shares, compared to its average volume of 40,953,860. The stock’s 50-day moving average is $36.13 and its two-hundred day moving average is $32.76. The stock has a market capitalization of $298.50 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 1.69 and a beta of 1.39. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. Bank of America Co. has a 52 week low of $24.96 and a 52 week high of $38.49.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.06. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The firm had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $25.49 billion. During the same quarter last year, the company posted $0.94 EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, analysts predict that Bank of America Co. will post 3.19 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.54%. The ex-dividend date is Friday, June 7th. Bank of America’s dividend payout ratio is presently 33.22%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wells Fargo & Company upped their price target on shares of Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Erste Group Bank raised shares of Bank of America from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Jefferies Financial Group boosted their price objective on Bank of America from $36.00 to $39.00 and gave the stock a “hold” rating in a report on Monday, April 8th. BMO Capital Markets upped their target price 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. Finally, Odeon Capital Group downgraded shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 target price for the company. in a report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Bank of America presently has a consensus rating of “Hold” and a consensus target price of $38.53.

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