Tyche Wealth Partners LLC Sells 633 Shares of Bank of America Co. (NYSE:BAC)

Tyche Wealth Partners LLC cut its position in Bank of America Co. (NYSE:BAC) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,594 shares of the financial services provider’s stock after selling 633 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Bank of America were worth $597,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Czech National Bank raised its position in Bank of America by 6.0% during the 3rd quarter. Czech National Bank now owns 1,375,216 shares of the financial services provider’s stock worth $54,569,000 after purchasing an additional 78,376 shares during the last quarter. Miracle Mile Advisors LLC boosted its position in shares of Bank of America by 10.4% during the 3rd quarter. Miracle Mile Advisors LLC now owns 19,798 shares of the financial services provider’s stock valued at $786,000 after purchasing an additional 1,858 shares in the last quarter. Bath Savings Trust Co grew its stake in Bank of America by 5.5% during the third quarter. Bath Savings Trust Co now owns 9,620 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 500 shares during the period. Insight Wealth Strategies LLC bought a new stake in Bank of America in the third quarter worth approximately $309,000. Finally, Cape ANN Savings Bank lifted its stake in Bank of America by 3.0% in the third quarter. Cape ANN Savings Bank now owns 36,079 shares of the financial services provider’s stock valued at $1,432,000 after buying an additional 1,060 shares during the period. Institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on BAC. Barclays boosted their target price on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Evercore ISI decreased their target price on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Wells Fargo & Company boosted their price objective on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 15th. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their price target for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their price target on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. 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 issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Stock Up 0.8 %

BAC stock opened at $47.11 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $361.45 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 1.26 and a beta of 1.33. 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 fifty day moving average of $45.79 and a 200-day moving average of $42.82.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same period last year, the company earned $0.70 earnings per share. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, equities research analysts predict that Bank of America Co. will post 3.67 earnings per share for the current year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s dividend payout ratio is 32.30%.

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.