Yousif Capital Management LLC Sells 38,523 Shares of Bank of America Co. (NYSE:BAC)

Yousif Capital Management LLC lowered its position in shares of Bank of America Co. (NYSE:BAC) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,075,151 shares of the financial services provider’s stock after selling 38,523 shares during the quarter. Bank of America accounts for approximately 0.4% of Yousif Capital Management LLC’s investment portfolio, making the stock its 26th biggest holding. Yousif Capital Management LLC’s holdings in Bank of America were worth $36,200,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Fortis Group Advisors LLC bought a new stake in shares of Bank of America in the 3rd quarter worth approximately $25,000. Glass Jacobson Investment Advisors llc raised its holdings in shares of Bank of America by 98.1% in the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 504 shares during the period. Criterion Capital Advisors LLC bought a new stake in shares of Bank of America in the 4th quarter worth approximately $32,000. ZRC Wealth Management LLC raised its holdings in shares of 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 worth $38,000 after purchasing an additional 750 shares during the period. Finally, Private Ocean LLC raised its holdings in shares of 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 worth $43,000 after purchasing an additional 325 shares during the period. Institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

NYSE:BAC traded up $0.64 during midday trading on Tuesday, hitting $38.37. The company had a trading volume of 39,159,885 shares, compared to its average volume of 41,775,906. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $38.42. The stock’s fifty day moving average price is $35.88 and its 200-day moving average price is $32.57. The company has a market capitalization of $302.72 billion, a PE ratio of 13.28, a P/E/G ratio of 1.66 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 (NYSE:BAC) last announced its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping 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 company had revenue of $25.82 billion during the quarter, compared to analyst estimates of $25.49 billion. During the same period in the previous year, the business earned $0.94 earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, research analysts expect that Bank of America Co. will post 3.17 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were given a dividend of $0.24 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.96 annualized dividend and a yield of 2.50%. Bank of America’s payout ratio is 33.22%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BAC. Keefe, Bruyette & Woods lifted their price target on shares of Bank of America from $33.00 to $37.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Jefferies Financial Group boosted their target price on shares of Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a report on Monday, April 8th. Wolfe Research raised 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. Oppenheimer lowered their target price on shares of Bank of America from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Finally, Citigroup boosted their target price on shares of Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. One equities 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average 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.