Y.D. More Investments Ltd Sells 33,028 Shares of Bank of America Co. (NYSE:BAC)

Y.D. More Investments Ltd trimmed its holdings in shares of Bank of America Co. (NYSE:BAC) by 54.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,525 shares of the financial services provider’s stock after selling 33,028 shares during the quarter. Y.D. More Investments Ltd’s holdings in Bank of America were worth $1,210,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Sargent Investment Group LLC increased its position in shares of Bank of America by 37.0% during 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 in the last quarter. Cassia Capital Partners LLC purchased a new stake in shares of Bank of America during the fourth quarter valued at $663,000. 1858 Wealth Management LLC acquired a new position in shares of Bank of America in the 4th quarter valued at $206,000. ARGA Investment Management LP lifted its position in Bank of America by 60.7% during the 4th quarter. ARGA Investment Management LP now owns 376,277 shares of the financial services provider’s stock worth $16,537,000 after acquiring an additional 142,087 shares during the period. Finally, Ninety One SA PTY Ltd purchased a new stake in Bank of America during the 4th quarter valued at about $18,361,000. Institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BAC shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 target price on shares of Bank of America in a research report on Wednesday, October 9th. Morgan Stanley lifted their price objective on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Barclays raised their price objective on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Oppenheimer increased their price target on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, January 7th. One equities research 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Price Performance

Shares of BAC opened at $46.73 on Wednesday. The stock has a market cap of $358.57 billion, a PE ratio of 14.51, a P/E/G ratio of 1.26 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 $32.35 and a 1-year high of $48.08. The firm has a 50-day simple moving average of $45.81 and a two-hundred day simple moving average of $42.79.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping 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 business had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter in the previous year, the firm posted $0.70 earnings per share. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, analysts forecast that Bank of America Co. will post 3.67 EPS for the current year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a dividend of $0.26 per share. The ex-dividend date is Friday, March 7th. This represents a $1.04 annualized dividend and a yield of 2.23%. Bank of America’s dividend payout ratio is currently 32.30%.

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.