Bank of America Co. (NYSE:BAC) Shares Sold by Oakworth Capital Inc.

Oakworth Capital Inc. trimmed its position in shares of Bank of America Co. (NYSE:BAC) by 13.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,217 shares of the financial services provider’s stock after selling 3,108 shares during the period. Oakworth Capital Inc.’s holdings in Bank of America were worth $647,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BAC. Fort Sheridan Advisors LLC raised its stake in Bank of America by 0.8% in the fourth quarter. Fort Sheridan Advisors LLC now owns 39,526 shares of the financial services provider’s stock valued at $1,309,000 after buying an additional 303 shares in the last quarter. Regent Peak Wealth Advisors LLC grew its holdings in shares of Bank of America by 3.2% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 9,976 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 314 shares during the last quarter. Kennedy Investment Group grew its holdings in shares of Bank of America by 0.6% during the fourth quarter. Kennedy Investment Group now owns 58,007 shares of the financial services provider’s stock worth $1,953,000 after buying an additional 321 shares during the last quarter. Private Ocean LLC grew its holdings in shares of Bank of America by 34.0% during the fourth quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock worth $43,000 after buying an additional 325 shares during the last quarter. Finally, Selective Wealth Management Inc. lifted its position in Bank of America by 2.0% in the fourth quarter. Selective Wealth Management Inc. now owns 17,351 shares of the financial services provider’s stock valued at $586,000 after purchasing an additional 334 shares during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BAC shares. Citigroup raised their price objective on shares of Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Oppenheimer reduced their price objective on shares of Bank of America from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday. Erste Group Bank upgraded shares of Bank of America from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. BMO Capital Markets reduced their price target on shares of Bank of America from $37.00 to $36.00 and set a “market perform” rating for the company in a research report on Tuesday, January 16th. Finally, Odeon Capital Group downgraded shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 price target for the company. in a research report on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $38.23.

Bank of America Trading Up 2.0 %

BAC traded up $0.70 during trading on Wednesday, hitting $35.38. The company’s stock had a trading volume of 45,047,254 shares, compared to its average volume of 41,236,453. The stock has a market cap of $279.17 billion, a PE ratio of 11.55, a PEG ratio of 1.64 and a beta of 1.39. The firm’s 50 day moving average price is $35.51 and its 200-day moving average price is $32.19. Bank of America Co. has a twelve month low of $24.96 and a twelve month high of $38.35. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were paid a $0.24 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.96 annualized dividend and a yield of 2.71%. Bank of America’s payout ratio is currently 31.27%.

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.