Bank of America Co. (NYSE:BAC) is Teewinot Capital Advisers L.L.C.’s 7th Largest Position

Teewinot Capital Advisers L.L.C. lowered its stake in shares of Bank of America Co. (NYSE:BAC) by 3.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,486,144 shares of the financial services provider’s stock after selling 57,385 shares during the period. Bank of America makes up approximately 6.7% of Teewinot Capital Advisers L.L.C.’s investment portfolio, making the stock its 7th largest position. Teewinot Capital Advisers L.L.C.’s holdings in Bank of America were worth $65,316,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Regent Peak Wealth Advisors LLC boosted its position in Bank of America by 10.3% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 11,971 shares of the financial services provider’s stock valued at $526,000 after buying an additional 1,116 shares during the period. Empirical Asset Management LLC boosted its position in Bank of America by 47.8% in the 4th quarter. Empirical Asset Management LLC now owns 45,096 shares of the financial services provider’s stock valued at $1,982,000 after buying an additional 14,576 shares during the period. Merit Financial Group LLC boosted its position in Bank of America by 34.7% in the 4th quarter. Merit Financial Group LLC now owns 135,385 shares of the financial services provider’s stock valued at $5,950,000 after buying an additional 34,881 shares during the period. Sax Wealth Advisors LLC purchased a new position in Bank of America in the 4th quarter valued at approximately $546,000. Finally, Brooklyn Investment Group raised its holdings in shares of Bank of America by 8.3% in the 4th quarter. Brooklyn Investment Group now owns 33,180 shares of the financial services provider’s stock valued at $1,458,000 after purchasing an additional 2,550 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Trading Up 0.6%

Shares of Bank of America stock opened at $44.66 on Friday. Bank of America Co. has a 1 year low of $33.07 and a 1 year high of $48.08. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $336.38 billion, a P/E ratio of 13.87, a PEG ratio of 1.21 and a beta of 1.27. The company’s fifty day moving average is $40.03 and its two-hundred day moving average is $43.55.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company had revenue of $27.37 billion for the quarter, compared to the consensus estimate of $26.83 billion. Analysts forecast that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America’s payout ratio is currently 30.95%.

Wall Street Analysts Forecast Growth

BAC has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reduced their price objective on shares of Bank of America from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. Oppenheimer raised their price objective on shares of Bank of America from $50.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, April 28th. Citigroup reduced their price objective on shares of Bank of America from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, March 24th. TD Cowen initiated coverage on shares of Bank of America in a report on Thursday. They issued a “buy” rating and a $53.00 price objective on the stock. Finally, Royal Bank of Canada reduced their price objective on shares of Bank of America from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.50.

Bank of America Company 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.