Calton & Associates Inc. Decreases Stock Position in Bank of America Co. (NYSE:BAC)

Calton & Associates Inc. decreased its position in shares of Bank of America Co. (NYSE:BACFree Report) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,740 shares of the financial services provider’s stock after selling 241 shares during the period. Calton & Associates Inc.’s holdings in Bank of America were worth $780,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mediolanum International Funds Ltd lifted its position in Bank of America by 46.2% during the fourth quarter. Mediolanum International Funds Ltd now owns 1,239,536 shares of the financial services provider’s stock valued at $54,294,000 after purchasing an additional 391,680 shares during the last quarter. Cairn Investment Group Inc. purchased a new stake in shares of Bank of America during the 4th quarter valued at about $210,000. OLD National Bancorp IN lifted its holdings in shares of Bank of America by 3.5% in the 4th quarter. OLD National Bancorp IN now owns 68,721 shares of the financial services provider’s stock valued at $3,020,000 after acquiring an additional 2,305 shares during the last quarter. Abel Hall LLC grew its position in Bank of America by 3.2% in the fourth quarter. Abel Hall LLC now owns 8,546 shares of the financial services provider’s stock worth $376,000 after acquiring an additional 266 shares in the last quarter. Finally, Baron Wealth Management LLC bought a new stake in Bank of America during the fourth quarter worth approximately $596,000. 70.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BAC shares. Oppenheimer lifted their target price on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price target on shares of Bank of America in a research note on Wednesday, October 9th. Barclays increased their target price on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target on the stock in a report on Friday, October 18th. Finally, Wells Fargo & Company lifted their price objective on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Read Our Latest Stock Report on BAC

Bank of America Stock Down 0.1 %

NYSE:BAC opened at $46.68 on Friday. The company’s 50-day simple moving average is $45.85 and its 200-day simple moving average is $42.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. Bank of America Co. has a fifty-two week low of $32.35 and a fifty-two week high of $48.08. The stock has a market capitalization of $358.19 billion, a P/E ratio of 14.50, a P/E/G ratio of 1.27 and a beta of 1.33.

Bank of America (NYSE:BACGet Free Report) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same period last year, the firm earned $0.70 earnings per share. Bank of America’s revenue was up 15.0% compared to the same quarter last year. On average, equities analysts anticipate that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

Bank of America 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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