Yousif Capital Management LLC Sells 35,542 Shares of Bank of America Co. (NYSE:BAC)

Yousif Capital Management LLC cut its stake in shares of Bank of America Co. (NYSE:BAC) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 957,970 shares of the financial services provider’s stock after selling 35,542 shares during the period. Bank of America accounts for approximately 0.5% of Yousif Capital Management LLC’s portfolio, making the stock its 26th largest holding. Yousif Capital Management LLC’s holdings in Bank of America were worth $42,103,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sargent Investment Group LLC increased its position in shares of Bank of America by 37.0% in the fourth quarter. Sargent Investment Group LLC now owns 81,628 shares of the financial services provider’s stock worth $3,678,000 after purchasing an additional 22,027 shares during the last quarter. Cassia Capital Partners LLC bought a new position in shares of Bank of America in the fourth quarter worth approximately $663,000. 1858 Wealth Management LLC bought a new position in shares of Bank of America in the fourth quarter worth approximately $206,000. ARGA Investment Management LP increased its position in shares of Bank of America by 60.7% in the fourth quarter. ARGA Investment Management LP now owns 376,277 shares of the financial services provider’s stock worth $16,537,000 after purchasing an additional 142,087 shares during the last quarter. Finally, Ninety One SA PTY Ltd bought a new position in shares of Bank of America in the fourth quarter worth approximately $18,361,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America Trading Up 1.1 %

Shares of NYSE:BAC opened at $46.73 on Wednesday. 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 $32.35 and a 1 year high of $48.08. The company has a market cap of $358.57 billion, a P/E ratio of 14.51, a PEG ratio of 1.26 and a beta of 1.33. The stock’s fifty day moving average price is $45.81 and its 200-day moving average price is $42.79.

Bank of America (NYSE:BAC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share 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 business had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the previous year, the firm earned $0.70 EPS. Bank of America’s revenue was up 15.0% on a year-over-year basis. Sell-side analysts expect that Bank of America Co. will post 3.67 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is 32.30%.

Wall Street Analyst Weigh In

BAC has been the topic of several research analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 price target on shares of Bank of America in a research report on Wednesday, October 9th. Barclays increased their price target 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. Finally, StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. One 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.58.

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.