Charles Carroll Financial Partners LLC Has $1.52 Million Stock Position in Bank of America Co. (NYSE:BAC)

Charles Carroll Financial Partners LLC trimmed its position in Bank of America Co. (NYSE:BAC) by 15.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,139 shares of the financial services provider’s stock after selling 8,350 shares during the quarter. Bank of America makes up 1.6% of Charles Carroll Financial Partners LLC’s portfolio, making the stock its 20th biggest position. Charles Carroll Financial Partners LLC’s holdings in Bank of America were worth $1,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC acquired a new stake in Bank of America in the third quarter worth about $25,000. Criterion Capital Advisors LLC acquired a new position in shares of Bank of America during the 4th quarter worth about $32,000. Glass Jacobson Investment Advisors llc grew its position 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 worth $28,000 after buying an additional 504 shares during the period. ZRC Wealth Management LLC grew its position in shares of Bank of America by 192.3% during the 4th quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock worth $38,000 after buying an additional 750 shares during the period. Finally, Private Ocean LLC grew its position in shares of Bank of America by 34.0% during the 4th 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 period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BAC has been the subject of several analyst reports. Wolfe Research upgraded Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a research report on Friday, April 19th. UBS Group reiterated a “neutral” rating and set a $40.00 price objective (up previously from $39.00) on shares of Bank of America in a report on Thursday, April 4th. Oppenheimer lifted their price objective on Bank of America from $45.00 to $46.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. Wells Fargo & Company lifted their price objective on Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Finally, Evercore ISI lifted their price objective on Bank of America from $37.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Bank of America currently has a consensus rating of “Hold” and an average target price of $38.70.

Bank of America Stock Up 1.0 %

BAC stock traded up $0.37 during midday trading on Friday, hitting $37.25. The company’s stock had a trading volume of 34,082,662 shares, compared to its average volume of 41,339,492. 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 Co. has a twelve month low of $24.96 and a twelve month high of $38.49. The company’s fifty day moving average price is $36.46 and its 200 day moving average price is $33.08. The stock has a market capitalization of $291.31 billion, a P/E ratio of 12.89, a PEG ratio of 1.66 and a beta of 1.37.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) 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 analyst estimates of $25.49 billion. During the same period in the previous year, the business earned $0.94 EPS. The company’s revenue was down 1.7% compared to the same quarter last year. As a group, equities research analysts predict that Bank of America Co. will post 3.21 EPS for the current year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.24 per share. The ex-dividend date is Friday, June 7th. This represents a $0.96 annualized dividend and a dividend yield of 2.58%. Bank of America’s dividend payout ratio is presently 33.22%.

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.