Oxford Financial Group LTD. LLC Trims Holdings in Bank of America Co. (NYSE:BAC)

Oxford Financial Group LTD. LLC reduced its holdings in shares of Bank of America Co. (NYSE:BAC) by 4.7% in the fourth quarter, HoldingsChannel reports. The fund owned 9,455 shares of the financial services provider’s stock after selling 467 shares during the period. Oxford Financial Group LTD. LLC’s holdings in Bank of America were worth $416,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Collier Financial purchased a new position in shares of Bank of America during the fourth quarter valued at approximately $25,000. Life Planning Partners Inc raised its stake in Bank of America by 3,883.2% during the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after buying an additional 545,936 shares during the last quarter. Fairway Wealth LLC bought a new stake in Bank of America in the fourth quarter worth $29,000. Highline Wealth Partners LLC grew its stake in shares of Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 510 shares during the last quarter. Finally, Mascoma Wealth Management LLC increased its holdings in shares of Bank of America by 68.2% during the fourth quarter. Mascoma Wealth Management LLC now owns 890 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 361 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Down 0.0 %

Shares of BAC stock opened at $42.47 on Friday. The company has a market cap of $322.88 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The stock’s 50 day simple moving average is $44.81 and its two-hundred day simple moving average is $43.77. Bank of America Co. has a 1 year low of $34.15 and a 1 year high of $48.08.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Bank of America’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the company earned $0.70 earnings per share. Research analysts predict that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.45%. Bank of America’s dividend payout ratio is presently 32.30%.

Analysts Set New Price Targets

BAC has been the subject of several recent analyst reports. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, January 7th. Oppenheimer lifted their price target on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Barclays increased their price objective on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Robert W. Baird raised shares of Bank of America from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $45.00 to $50.00 in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and an average price target of $48.64.

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.