D L Carlson Investment Group Inc. Has $444,000 Stock Position in Bank of America Co. (NYSE:BAC)

D L Carlson Investment Group Inc. cut its stake in shares of Bank of America Co. (NYSE:BAC) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,092 shares of the financial services provider’s stock after selling 1,029 shares during the period. D L Carlson Investment Group Inc.’s holdings in Bank of America were worth $444,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BAC. AIA Group Ltd increased its stake in shares of Bank of America by 38.8% in the fourth quarter. AIA Group Ltd now owns 288,968 shares of the financial services provider’s stock valued at $12,700,000 after buying an additional 80,724 shares during the period. FSB Premier Wealth Management Inc. grew its holdings in Bank of America by 9.0% during the 4th quarter. FSB Premier Wealth Management Inc. now owns 19,986 shares of the financial services provider’s stock worth $878,000 after acquiring an additional 1,643 shares during the last quarter. Everstar Asset Management LLC increased its position in Bank of America by 48.3% in the 4th quarter. Everstar Asset Management LLC now owns 13,916 shares of the financial services provider’s stock valued at $612,000 after acquiring an additional 4,531 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of Bank of America by 4.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,130,368 shares of the financial services provider’s stock valued at $49,680,000 after acquiring an additional 43,531 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Bank of America by 8.2% during the fourth quarter. Clearbridge Investments LLC now owns 16,875,268 shares of the financial services provider’s stock worth $741,668,000 after purchasing an additional 1,274,958 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of NYSE BAC opened at $41.24 on Monday. The stock’s 50-day moving average is $44.45 and its 200 day moving average is $43.93. The stock has a market cap of $313.50 billion, a price-to-earnings ratio of 12.81, a P/E/G ratio of 1.21 and a beta of 1.32. Bank of America Co. has a 1-year low of $34.15 and a 1-year high of $48.08. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. During the same period last year, the firm earned $0.70 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.52%. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BAC. Morgan Stanley increased their target price on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report 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 decreased their price target on Bank of America from $54.00 to $50.00 and set a “buy” rating for the company in a report on Monday, March 24th. Robert W. Baird raised Bank of America from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $45.00 to $50.00 in a research note on Friday, March 7th. Finally, UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and three have given 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 $48.45.

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.