Bouchey Financial Group Ltd Decreases Holdings in Bank of America Co. (NYSE:BAC)

Bouchey Financial Group Ltd trimmed its holdings in shares of Bank of America Co. (NYSE:BAC) by 3.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,136 shares of the financial services provider’s stock after selling 890 shares during the period. Bouchey Financial Group Ltd’s holdings in Bank of America were worth $1,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Sentinel Trust Co. LBA lifted its holdings in Bank of America by 23.4% during the 4th quarter. Sentinel Trust Co. LBA now owns 27,905 shares of the financial services provider’s stock worth $1,226,000 after buying an additional 5,285 shares during the last quarter. Fusion Capital LLC lifted its holdings in shares of Bank of America by 2.2% in the 4th quarter. Fusion Capital LLC now owns 185,066 shares of the financial services provider’s stock valued at $8,134,000 after purchasing an additional 3,918 shares during the last quarter. Fort Sheridan Advisors LLC lifted its holdings in shares of Bank of America by 6.8% in the 4th quarter. Fort Sheridan Advisors LLC now owns 43,375 shares of the financial services provider’s stock valued at $1,906,000 after purchasing an additional 2,752 shares during the last quarter. HC Advisors LLC lifted its holdings in shares of Bank of America by 15.3% in the 4th quarter. HC Advisors LLC now owns 10,104 shares of the financial services provider’s stock valued at $444,000 after purchasing an additional 1,339 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in shares of Bank of America by 3.9% in the 4th quarter. QRG Capital Management Inc. now owns 932,015 shares of the financial services provider’s stock valued at $40,962,000 after purchasing an additional 35,212 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on BAC. Evercore ISI reduced their target price 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. Oppenheimer boosted their target price on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, January 17th. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, January 7th. Wells Fargo & Company boosted their target price on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and boosted their price target for the company from $46.00 to $54.00 in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Performance

NYSE BAC opened at $44.17 on Friday. 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 business’s 50 day moving average is $45.74 and its two-hundred day moving average is $43.50. Bank of America Co. has a 12-month low of $34.03 and a 12-month high of $48.08. The stock has a market capitalization of $338.87 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 1.21 and a beta of 1.33.

Bank of America (NYSE:BAC) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion for 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%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 EPS. Research analysts expect that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders 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 dividend yield of 2.35%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) 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.