Humankind Investments LLC Trims Holdings in Bank of America Co. (NYSE:BAC)

Humankind Investments LLC lowered its position in Bank of America Co. (NYSE:BAC) by 11.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,378 shares of the financial services provider’s stock after selling 2,250 shares during the period. Humankind Investments LLC’s holdings in Bank of America were worth $764,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of BAC. Collier Financial acquired a new stake in Bank of America during the 4th quarter worth about $25,000. Life Planning Partners Inc grew its holdings in Bank of America by 3,883.2% during the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 545,936 shares during the period. Graney & King LLC purchased a new position in Bank of America during the fourth quarter valued at approximately $25,000. Fairway Wealth LLC purchased a new position in shares of Bank of America during the 4th quarter valued at approximately $29,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Bank of America in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Up 0.6 %

Shares of NYSE BAC opened at $41.85 on Friday. The business’s 50 day moving average is $39.69 and its two-hundred day moving average is $43.49. Bank of America Co. has a 52-week low of $33.07 and a 52-week high of $48.08. The firm has a market cap of $315.21 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 1.21 and a beta of 1.27. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $27.37 billion during the quarter, compared to analysts’ expectations of $26.83 billion. Research analysts predict that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be paid 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 2.49%. Bank of America’s payout ratio is currently 30.95%.

Analyst Ratings Changes

A number of analysts have recently commented on BAC shares. Robert W. Baird upgraded 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 report on Friday, March 7th. Keefe, Bruyette & Woods decreased 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. Morgan Stanley boosted their target price on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Argus lowered their price objective on Bank of America from $53.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Finally, Citigroup reduced their target price 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and an average target price of $47.25.

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.