Greylin Investment Management Inc Sells 995 Shares of Bank of America Co. (NYSE:BAC)

Greylin Investment Management Inc trimmed its holdings in Bank of America Co. (NYSE:BAC) by 0.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 252,067 shares of the financial services provider’s stock after selling 995 shares during the quarter. Bank of America accounts for about 1.5% of Greylin Investment Management Inc’s holdings, making the stock its 11th biggest holding. Greylin Investment Management Inc’s holdings in Bank of America were worth $9,558,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BAC. Schechter Investment Advisors LLC boosted its holdings in Bank of America by 8.2% during the 3rd quarter. Schechter Investment Advisors LLC now owns 55,348 shares of the financial services provider’s stock valued at $1,515,000 after acquiring an additional 4,187 shares during the period. Ethos Financial Group LLC boosted its stake in shares of Bank of America by 6.2% during the fourth quarter. Ethos Financial Group LLC now owns 8,452 shares of the financial services provider’s stock valued at $285,000 after purchasing an additional 492 shares during the period. Auxano Advisors LLC grew its holdings in shares of Bank of America by 234.5% in the fourth quarter. Auxano Advisors LLC now owns 27,356 shares of the financial services provider’s stock worth $921,000 after purchasing an additional 19,179 shares during the last quarter. Stonebridge Capital Advisors LLC increased its stake in shares of Bank of America by 3.7% in the third quarter. Stonebridge Capital Advisors LLC now owns 65,495 shares of the financial services provider’s stock worth $1,793,000 after buying an additional 2,332 shares during the period. Finally, Kingswood Wealth Advisors LLC raised its holdings in Bank of America by 228.3% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 67,511 shares of the financial services provider’s stock valued at $2,273,000 after buying an additional 46,950 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BAC shares. JPMorgan Chase & Co. boosted their price objective on shares of Bank of America from $39.50 to $40.50 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Wells Fargo & Company boosted their price target on Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Citigroup increased their price objective on Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. UBS Group reissued a “neutral” rating and set a $40.00 target price (up from $39.00) on shares of Bank of America in a research note on Thursday, April 4th. Finally, Jefferies Financial Group raised their price target on Bank of America from $36.00 to $39.00 and gave the stock a “hold” rating in a research note on Monday, April 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $38.70.

View Our Latest Stock Analysis on BAC

Bank of America Trading Down 1.4 %

Shares of BAC traded down $0.57 during mid-day trading on Thursday, reaching $39.19. The stock had a trading volume of 39,009,702 shares, compared to its average volume of 39,454,629. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $39.84. The firm has a market cap of $306.44 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 1.75 and a beta of 1.37. The business’s fifty day moving average is $37.45 and its 200 day moving average is $34.26. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79.

Bank of America (NYSE:BACGet Free Report) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The business 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%. The business’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 EPS. On average, sell-side analysts predict that Bank of America Co. will post 3.23 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Friday, June 7th. Bank of America’s payout ratio is 33.22%.

Bank of America Company Profile

(Free Report)

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.

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

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