Jolley Asset Management LLC lessened its holdings in Bank of America Corp (NYSE:BAC) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 157,804 shares of the financial services provider’s stock after selling 12,311 shares during the quarter. Bank of America accounts for 3.2% of Jolley Asset Management LLC’s investment portfolio, making the stock its 3rd biggest position. Jolley Asset Management LLC’s holdings in Bank of America were worth $5,558,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BAC. Garrett Wealth Advisory Group LLC bought a new stake in shares of Bank of America during the 3rd quarter valued at about $25,000. Larson Financial Group LLC boosted its stake in shares of Bank of America by 195.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,330 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 880 shares in the last quarter. Corbenic Partners LLC bought a new stake in shares of Bank of America during the 4th quarter valued at about $39,000. Salomon & Ludwin LLC boosted its stake in shares of Bank of America by 120.6% during the 2nd quarter. Salomon & Ludwin LLC now owns 1,489 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 814 shares in the last quarter. Finally, Selective Wealth Management Inc. bought a new stake in shares of Bank of America during the 3rd quarter valued at about $43,000. Institutional investors own 69.21% of the company’s stock.

Shares of BAC traded down $0.58 during mid-day trading on Friday, hitting $33.54. 34,180,868 shares of the company traded hands, compared to its average volume of 38,938,584. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.90 and a current ratio of 0.91. The stock has a 50-day moving average price of $34.71 and a two-hundred day moving average price of $31.10. Bank of America Corp has a 1 year low of $26.21 and a 1 year high of $35.72. The stock has a market cap of $300.62 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 1.25 and a beta of 1.64.

Bank of America (NYSE:BAC) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.05. The business had revenue of $22.30 billion during the quarter, compared to analysts’ expectations of $22.30 billion. Bank of America had a net margin of 24.15% and a return on equity of 11.95%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.70 earnings per share. On average, analysts forecast that Bank of America Corp will post 3.05 EPS for the current year.

A number of brokerages have recently weighed in on BAC. Citigroup lifted their target price on shares of Bank of America from $29.00 to $37.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Wells Fargo & Co set a $34.00 target price on shares of Bank of America and gave the company a “buy” rating in a research note on Tuesday, October 15th. Societe Generale lowered shares of Bank of America from a “hold” rating to a “sell” rating in a research note on Tuesday, October 29th. Barclays raised shares of Bank of America from an “equal weight” rating to an “overweight” rating and set a $43.00 target price on the stock in a research note on Monday, January 6th. Finally, UBS Group lowered shares of Bank of America from a “buy” rating to a “neutral” rating and lifted their target price for the company from $34.00 to $36.00 in a research note on Monday, January 6th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. Bank of America presently has a consensus rating of “Hold” and a consensus price target of $35.29.

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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

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Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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