Naples Global Advisors LLC Sells 1,126 Shares of Bank of America Co. (NYSE:BAC)

Naples Global Advisors LLC decreased its holdings in Bank of America Co. (NYSE:BAC) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,642 shares of the financial services provider’s stock after selling 1,126 shares during the quarter. Naples Global Advisors LLC’s holdings in Bank of America were worth $995,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in BAC. Collier Financial purchased a new stake in shares of Bank of America in the 4th quarter worth about $25,000. Kennebec Savings Bank purchased a new stake in Bank of America in the third quarter worth about $29,000. Highline Wealth Partners LLC boosted its position in Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 510 shares in the last quarter. Retirement Wealth Solutions LLC bought a new stake in Bank of America during the 4th quarter valued at approximately $42,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Bank of America during the 3rd quarter worth approximately $45,000. Institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

BAC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised their target price on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, January 7th. Oppenheimer increased their price target on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a research note on Friday, October 18th. Finally, Barclays raised 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 note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Trading Up 0.2 %

NYSE:BAC opened at $46.32 on Friday. The company has a market cap of $355.40 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 1.29 and a beta of 1.33. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The company has a 50 day simple moving average of $45.76 and a two-hundred day simple moving average of $43.02. Bank of America Co. has a 12 month low of $32.49 and a 12 month high of $48.08.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Bank of America’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 earnings per share. Research analysts forecast that Bank of America Co. will post 3.69 earnings per share for the current year.

Bank of America Dividend Announcement

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 issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s payout ratio is 32.30%.

Bank of America Company 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.