S.A. Mason LLC Sells 12,789 Shares of Bank of America Co. (NYSE:BAC)

S.A. Mason LLC lessened its position in shares of Bank of America Co. (NYSE:BAC) by 43.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,759 shares of the financial services provider’s stock after selling 12,789 shares during the period. S.A. Mason LLC’s holdings in Bank of America were worth $564,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BAC. Buckingham Strategic Partners boosted its position in Bank of America by 23.7% during the 2nd quarter. Buckingham Strategic Partners now owns 54,963 shares of the financial services provider’s stock worth $1,577,000 after acquiring an additional 10,535 shares during the last quarter. Goodman Advisory Group LLC boosted its stake in shares of Bank of America by 104,312.4% during the 2nd quarter. Goodman Advisory Group LLC now owns 194,207 shares of the financial services provider’s stock worth $5,572,000 after buying an additional 194,021 shares during the last quarter. Schechter Investment Advisors LLC grew its holdings in shares of Bank of America by 8.2% in the 3rd quarter. Schechter Investment Advisors LLC now owns 55,348 shares of the financial services provider’s stock valued at $1,515,000 after acquiring an additional 4,187 shares in the last quarter. Eastern Bank increased its position in shares of Bank of America by 354.5% in the third quarter. Eastern Bank now owns 119,713 shares of the financial services provider’s stock valued at $3,278,000 after acquiring an additional 93,375 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC raised its holdings in Bank of America by 3.7% during the third quarter. Stonebridge Capital Advisors LLC now owns 65,495 shares of the financial services provider’s stock worth $1,793,000 after acquiring an additional 2,332 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of NYSE BAC opened at $37.83 on Thursday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market cap of $298.50 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 1.70 and a beta of 1.38. The stock’s fifty day moving average price is $34.35 and its two-hundred day moving average price is $31.26. Bank of America Co. has a one year low of $24.96 and a one year high of $37.85.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Bank of America had a net margin of 15.42% and a return on equity of 11.38%. The business had revenue of $22 billion for the quarter, compared to the consensus estimate of $23.70 billion. During the same period in the prior year, the company posted $0.85 earnings per share. Bank of America’s revenue was down 10.2% compared to the same quarter last year. On average, equities analysts forecast that Bank of America Co. will post 3.11 EPS for the current year.

Bank of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be given a $0.24 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.54%. Bank of America’s payout ratio is 31.27%.

Wall Street Analyst Weigh In

BAC has been the subject of a number of analyst reports. BMO Capital Markets decreased their price target on Bank of America from $37.00 to $36.00 and set a “market perform” rating for the company in a research note on Tuesday, January 16th. The Goldman Sachs Group upped their price target on shares of Bank of America from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, December 1st. Citigroup lifted their price objective on shares of Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Wednesday, March 20th. Barclays raised their target price on shares of Bank of America from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Oppenheimer lowered their price target on Bank of America from $50.00 to $46.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $35.65.

About Bank of America

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.