Epacria Capital Partners LLC Has $762,000 Stock Position in Bank of America Co. (NYSE:BAC)

Epacria Capital Partners LLC lessened its holdings in shares of Bank of America Co. (NYSE:BAC) by 51.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,340 shares of the financial services provider’s stock after selling 18,340 shares during the quarter. Epacria Capital Partners LLC’s holdings in Bank of America were worth $762,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BAC. Geode Capital Management LLC raised its holdings in shares of Bank of America by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 142,289,199 shares of the financial services provider’s stock worth $6,243,000,000 after acquiring an additional 2,033,229 shares during the period. Price T Rowe Associates Inc. MD raised its position in Bank of America by 10.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 122,437,422 shares of the financial services provider’s stock valued at $5,381,126,000 after buying an additional 11,691,451 shares during the last quarter. Norges Bank bought a new position in shares of Bank of America during the 4th quarter worth approximately $5,226,989,000. Capital World Investors boosted its holdings in Bank of America by 23.9% during the fourth quarter. Capital World Investors now owns 88,210,527 shares of the financial services provider’s stock worth $3,876,853,000 after purchasing an additional 17,031,143 shares during the last quarter. Finally, Northern Trust Corp grew its position in Bank of America by 17.2% in the fourth quarter. Northern Trust Corp now owns 67,935,940 shares of the financial services provider’s stock valued at $2,985,785,000 after purchasing an additional 9,980,859 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BAC has been the topic of several analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of Bank of America from $55.00 to $52.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 16th. Cfra Research raised their price objective on Bank of America to $47.00 and gave the company a “buy” rating in a research report on Wednesday, April 16th. Morgan Stanley boosted their target price on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Argus cut their price target on Bank of America from $53.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Finally, UBS Group increased their price objective on shares of Bank of America from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.25.

Bank of America Stock Down 0.6 %

Shares of BAC opened at $40.86 on Wednesday. The firm has a market cap of $310.62 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.21 and a beta of 1.27. Bank of America Co. has a 1 year low of $33.07 and a 1 year high of $48.08. The stock has a 50 day simple moving average of $39.89 and a two-hundred day simple moving average of $43.50. 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 (NYSE:BAC) last released its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $27.37 billion during the quarter, compared to analyst estimates of $26.83 billion. On average, analysts forecast that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, June 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.55%. Bank of America’s dividend payout ratio is currently 30.95%.

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.