NBT Bank N A NY Lowers Position in Bank of America Co. (NYSE:BAC)

NBT Bank N A NY trimmed its position in shares of Bank of America Co. (NYSE:BAC) by 6.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,859 shares of the financial services provider’s stock after selling 4,491 shares during the period. NBT Bank N A NY’s holdings in Bank of America were worth $2,982,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Swedbank AB grew its holdings in shares of Bank of America by 0.7% in the third quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider’s stock worth $279,441,000 after purchasing an additional 50,849 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Bank of America by 120.2% in the third quarter. Van ECK Associates Corp now owns 19,231 shares of the financial services provider’s stock valued at $814,000 after buying an additional 10,497 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Bank of America by 3.8% in the third quarter. Principal Financial Group Inc. now owns 15,415,630 shares of the financial services provider’s stock worth $611,692,000 after acquiring an additional 569,385 shares during the last quarter. Assetmark Inc. lifted its position in Bank of America by 5.8% during the third quarter. Assetmark Inc. now owns 878,415 shares of the financial services provider’s stock worth $34,855,000 after buying an additional 47,896 shares in the last quarter. Finally, Atria Investments Inc raised its position in shares of Bank of America by 6.0% during the 3rd quarter. Atria Investments Inc now owns 455,182 shares of the financial services provider’s stock valued at $18,062,000 after buying an additional 25,741 shares during the period. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Stock Down 0.2 %

Shares of Bank of America stock opened at $41.39 on Monday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. Bank of America Co. has a 1-year low of $34.15 and a 1-year high of $48.08. The business’s fifty day moving average price is $45.61 and its two-hundred day moving average price is $43.75. The company has a market capitalization of $314.72 billion, a P/E ratio of 12.85, a PEG ratio of 1.21 and a beta of 1.32.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 earnings per share. As a group, research analysts forecast that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BAC shares. Barclays increased their target price on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Morgan Stanley upped their price target on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Baird R W upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Friday. Finally, Evercore ISI cut their price target on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $48.64.

Bank of America 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.