Sargent Investment Group LLC Acquires 10,160 Shares of Bank of America Co. (NYSE:BAC)

Sargent Investment Group LLC raised its position in Bank of America Co. (NYSE:BAC) by 26.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,873 shares of the financial services provider’s stock after purchasing an additional 10,160 shares during the period. Sargent Investment Group LLC’s holdings in Bank of America were worth $1,646,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Fortis Group Advisors LLC bought a new stake in shares of Bank of America during the 3rd quarter worth $25,000. Glass Jacobson Investment Advisors llc lifted its holdings in shares of Bank of America by 98.1% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 504 shares during the last quarter. Criterion Capital Advisors LLC bought a new stake in shares of Bank of America during the 4th quarter worth $32,000. ZRC Wealth Management LLC lifted its holdings in shares of Bank of America by 192.3% during the 4th quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 750 shares during the last quarter. Finally, Private Ocean LLC lifted its holdings in shares of Bank of America by 34.0% during the 4th quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 325 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Oppenheimer dropped their price objective on shares of Bank of America from $46.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, April 17th. Barclays lifted their price objective on shares of Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. UBS Group reiterated a “neutral” rating and issued a $40.00 target price (up previously from $39.00) on shares of Bank of America in a research report on Thursday, April 4th. Odeon Capital Group cut shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 target price on the stock. in a research report on Tuesday, January 16th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Bank of America from $33.00 to $37.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $38.53.

Bank of America Trading Down 0.2 %

Shares of BAC stock traded down $0.08 during mid-day trading on Friday, reaching $37.83. The stock had a trading volume of 28,668,680 shares, compared to its average volume of 40,953,860. The stock’s 50-day moving average price is $36.13 and its two-hundred day moving average price is $32.76. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $38.49. The firm has a market capitalization of $298.50 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 1.69 and a beta of 1.39. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The firm had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $25.49 billion. During the same quarter in the previous year, the company earned $0.94 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities analysts expect that Bank of America Co. will post 3.19 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Friday, June 7th. Bank of America’s payout ratio is 33.22%.

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.