WMS Partners LLC Sells 13,050 Shares of Bank of America Corporation (BAC)

WMS Partners LLC lowered its holdings in Bank of America Corporation (NYSE:BAC) by 30.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,512 shares of the financial services provider’s stock after selling 13,050 shares during the period. WMS Partners LLC’s holdings in Bank of America Corporation were worth $740,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tarbox Family Office Inc. lifted its holdings in shares of Bank of America Corporation by 0.4% during the 2nd quarter. Tarbox Family Office Inc. now owns 4,809 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 21 shares during the period. Capital Management Corp VA lifted its holdings in shares of Bank of America Corporation by 0.3% during the 2nd quarter. Capital Management Corp VA now owns 10,385 shares of the financial services provider’s stock worth $252,000 after acquiring an additional 33 shares during the period. Gateway Advisory LLC lifted its holdings in shares of Bank of America Corporation by 0.4% during the 2nd quarter. Gateway Advisory LLC now owns 10,053 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 45 shares during the period. Arbor Investment Advisors LLC lifted its holdings in shares of Bank of America Corporation by 0.3% during the 2nd quarter. Arbor Investment Advisors LLC now owns 14,328 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 46 shares during the period. Finally, Lbmc Investment Advisors LLC lifted its holdings in shares of Bank of America Corporation by 0.3% during the 2nd quarter. Lbmc Investment Advisors LLC now owns 16,851 shares of the financial services provider’s stock worth $409,000 after acquiring an additional 51 shares during the period. 62.19% of the stock is owned by hedge funds and other institutional investors.

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A number of brokerages have recently weighed in on BAC. BidaskClub downgraded shares of Bank of America Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Vetr raised shares of Bank of America Corporation from a “sell” rating to a “strong-buy” rating and set a $33.96 price target for the company in a report on Tuesday, November 7th. J P Morgan Chase & Co upped their price target on shares of Bank of America Corporation from $27.50 to $28.50 and gave the stock an “overweight” rating in a report on Wednesday, November 1st. UBS AG set a $27.00 price target on shares of Bank of America Corporation and gave the stock a “hold” rating in a report on Monday, October 16th. Finally, Nomura upped their price target on shares of Bank of America Corporation from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, October 16th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Bank of America Corporation has a consensus rating of “Buy” and a consensus target price of $25.82.

Bank of America Corporation (NYSE:BAC) opened at $26.76 on Friday. The stock has a market cap of $279,436.06, a price-to-earnings ratio of 15.31, a P/E/G ratio of 1.86 and a beta of 1.31. Bank of America Corporation has a 12 month low of $19.70 and a 12 month high of $27.98. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.90 and a current ratio of 0.91.

Bank of America Corporation (NYSE:BAC) last issued its earnings results on Friday, October 13th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. The business had revenue of $22.08 billion for the quarter, compared to analyst estimates of $22.07 billion. Bank of America Corporation had a net margin of 20.66% and a return on equity of 8.33%. Bank of America Corporation’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 earnings per share. analysts predict that Bank of America Corporation will post 1.8 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.79%. The ex-dividend date is Thursday, November 30th. Bank of America Corporation’s dividend payout ratio is presently 27.43%.

About Bank of America Corporation

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.

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

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