Cantor Fitzgerald Investment Advisors L.P. Sells 1,513 Shares of Bank of America Co. (NYSE:BAC)

Cantor Fitzgerald Investment Advisors L.P. decreased its position in Bank of America Co. (NYSE:BAC) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,322 shares of the financial services provider’s stock after selling 1,513 shares during the period. Cantor Fitzgerald Investment Advisors L.P.’s holdings in Bank of America were worth $4,365,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kennebec Savings Bank bought a new position in shares of Bank of America in the third quarter worth approximately $29,000. Highline Wealth Partners LLC boosted its stake in Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 510 shares during the last quarter. Christopher J. Hasenberg Inc increased its holdings in shares of Bank of America by 525.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 852 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Bank of America in the fourth quarter worth $42,000. Finally, Northwest Investment Counselors LLC purchased a new position in Bank of America in the 3rd quarter worth about $45,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BAC has been the topic of several research reports. Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price target on shares of Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, January 7th. Finally, Barclays raised their target price on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Trading Down 0.7 %

BAC stock opened at $47.43 on Friday. The firm’s fifty day simple moving average is $45.77 and its two-hundred day simple moving average is $42.88. The stock has a market capitalization of $363.89 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 1.29 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a twelve month low of $32.35 and a twelve month high of $48.08.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same period in the prior year, the company posted $0.70 EPS. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, analysts anticipate that Bank of America Co. will post 3.69 earnings per share for the current year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.19%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

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.