FDx Advisors Inc. Sells 579 Shares of Bank of America Co. (NYSE:BAC)

FDx Advisors Inc. decreased its stake in Bank of America Co. (NYSE:BAC) by 5.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,897 shares of the financial services provider’s stock after selling 579 shares during the period. FDx Advisors Inc.’s holdings in Bank of America were worth $435,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in Bank of America by 1.2% during the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock valued at $5,546,871,000 after acquiring an additional 1,700,141 shares in the last quarter. Fisher Asset Management LLC grew its stake in Bank of America by 4.0% during the third quarter. Fisher Asset Management LLC now owns 45,215,832 shares of the financial services provider’s stock valued at $1,794,164,000 after acquiring an additional 1,731,003 shares in the last quarter. Sanders Capital LLC grew its stake in Bank of America by 2.8% during the third quarter. Sanders Capital LLC now owns 22,341,213 shares of the financial services provider’s stock valued at $886,499,000 after acquiring an additional 601,211 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in Bank of America by 0.4% during the third quarter. Diamond Hill Capital Management Inc. now owns 17,042,952 shares of the financial services provider’s stock valued at $676,264,000 after acquiring an additional 59,853 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Bank of America by 1.8% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 15,857,556 shares of the financial services provider’s stock valued at $696,940,000 after acquiring an additional 285,117 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company boosted their price objective on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Evercore ISI cut their price target on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company 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 research note on Tuesday, January 7th. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $46.00 to $54.00 in a research note on Friday, November 8th. Finally, Oppenheimer boosted 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Down 1.5 %

NYSE:BAC opened at $45.31 on Friday. The firm’s 50-day moving average price is $45.77 and its 200-day moving average price is $43.27. The company has a market capitalization of $347.62 billion, a PE ratio of 14.07, a P/E/G ratio of 1.24 and a beta of 1.33. 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 $33.17 and a 1-year high of $48.08.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS 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 for the quarter, compared to the consensus estimate of $25.12 billion. During the same period in the prior year, the firm posted $0.70 EPS. Bank of America’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, equities analysts predict that Bank of America Co. will post 3.69 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced 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 2.30%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is presently 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.