Epacria Capital Partners LLC Trims Stake in Bank of America Co. (NYSE:BAC)

Epacria Capital Partners LLC decreased its position in shares of Bank of America Co. (NYSE:BAC) by 51.4% during the fourth quarter, Holdings Channel reports. The fund owned 17,340 shares of the financial services provider’s stock after selling 18,340 shares during the period. Epacria Capital Partners LLC’s holdings in Bank of America were worth $762,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Collar Capital Management LLC bought a new stake in shares of Bank of America during the 4th quarter valued at $222,000. Cornerstone Select Advisors LLC purchased a new stake in Bank of America in the fourth quarter worth about $2,820,000. Crabel Capital Management LLC bought a new position in shares of Bank of America during the fourth quarter valued at approximately $445,000. Crestline Management LP purchased a new position in Bank of America during the fourth quarter valued at $1,162,000. Finally, Capital Advantage Inc. purchased a new stake in shares of Bank of America during the fourth quarter valued at approximately $265,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Citigroup lowered their price target on Bank of America from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, March 24th. UBS Group lifted their price target on shares of Bank of America from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their target price on shares of Bank of America from $49.50 to $43.50 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Phillip Securities raised Bank of America from a “moderate buy” rating to a “strong-buy” rating in a report on Thursday, April 17th. Finally, Robert W. Baird raised Bank of America from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $45.00 to $50.00 in a research report on Friday, March 7th. One equities 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’s stock. According to data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and an average price target of $47.25.

Bank of America Stock Performance

Shares of NYSE:BAC opened at $40.86 on Wednesday. Bank of America Co. has a one year low of $33.07 and a one 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 firm’s 50 day simple moving average is $39.89 and its 200-day simple moving average is $43.50. The firm has a market cap of $310.62 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. The business had revenue of $27.37 billion for the quarter, compared to analysts’ expectations of $26.83 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. As a group, equities analysts predict that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors 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 2.55%. The ex-dividend date is Friday, June 6th. Bank of America’s dividend payout ratio is currently 30.95%.

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.