Bank of America Co. (NYSE:BAC) Shares Sold by Daiwa Securities Group Inc.

According to the most recent SEC disclosure, the institutional investor increased its holdings by 23.7% during the fourth quarter. The investor held 613,334 of the stock of the financial services provider after selling 190 755 shares over the period. Daiwa Securities Group Inc. held shares of Bank of America worth $20,313,000 as of the latest reporting period.

Recently, other institutional investors also made changes to the positions they hold in the company. Legend Financial Advisors Inc. increased its holdings of shares of Bank of America in the fourth-quarter by 6,772.7%. Legend Financial Advisors Inc. owns 756 of the financial services provider stock, valued at $25,000. This is after buying an additional 745 in the fourth quarter. WD Rutherford LLC acquired a new Bank of America position worth about $33,000 in the third-quarter. Ten Capital Wealth Advisors LLC increased its stake in Bank of America in the third-quarter by 1,491.8%. Ten Capital Wealth Advisors LLC owns 1,162 of the financial services provider’s stock, worth $35,000, after purchasing an additional 1,089 during the last quarterly. Mendota Financial Group LLC acquired a new position worth about $36,000 in Bank of America during the fourth quarter. McElhenny Sheffield Capital Management LLC also purchased a position in Bank of America during the fourth quarter, worth about $38,000. On Thursday, the stock rose $0.31 to $28.75. Stock of the company traded 10,433,575 compared to an average of 55,576,387 shares. The company has a moving average for the past 50 days of $30.35, and a moving average for the last two hundred days of $33.24. The company's current ratio is 0.82, its quick ratio is 0.82 and it has a debt to equity ratio of 1.13.

The last time ) released its quarterly results was on Tuesday, 18th April. The financial services provider posted $0.94 per share for the quarter. This was $0.11 higher than the consensus estimate ($0.83). Revenue for the quarter was $26.26 billion, which is higher than the consensus estimate. Bank of America's net margin was 21.85%, and its return on equity was 11.72%. Bank of America reported a 13.0% increase in revenue on an annual basis. In the same quarter last year, the company earned $0.80 per share. Analysts predict that Bank of America Co. is expected to post 3.4 EPS in the current fiscal year.

Bank of America Dividend Announcement

Recently, the company announced a quarterly distribution that will be paid out on Friday 30th June. Dividends will be paid to shareholders who are registered on Friday, 2nd June. This is a $0.88 dividend, which represents a 3.06% yield. Bank of America has a dividend payout ratio of 26.43%.

Bank of America: Insiders Buying and selling

In other Bank of America news, insider Matthew M. Koder sold 105,054 shares of the business's stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $34.27, for a total value of $3,600,200.58. Following the transaction, the insider now directly owns 319,803 shares of the company's stock, valued at approximately $10,959,648.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through
this link
. In other news, insider Matthew M. Koder sold 214,745 shares of the company's stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $35.91, for a total transaction of $7,711,492.95. Following the transaction, the insider now directly owns 214,747 shares of the company's stock, valued at approximately $7,711,564.77. The transaction was disclosed in a filing with the SEC, which is accessible through
the SEC website
. Also, insider Matthew M. Koder sold 105,054 shares of the company's stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $34.27, for a total transaction of $3,600,200.58. Following the transaction, the insider now directly owns 319,803 shares in the company, valued at $10,959,648.81. The disclosure for this sale can be found
here
. 0.27% of the stock is currently owned by corporate insiders.

Wall Street analysts weigh in

BAC stock has been the subject of recent research reports by a number of analysts. Odeon Capital Group lowered shares of Bank of America's rating from 'buy' to a "hold" rating. The company's price target was set at $35.20. In a research report published on March 8th, Odeon Capital Group downgraded shares of Bank of America from a 'buy' rating to a 'hold. Citigroup decreased its price target for shares of Bank of America, from $38.00 down to $33.00. The company was given a rating of 'neutral in a note of research published on Wednesday April 19th. Barclays reduced their price target for shares of Bank of America, from $48.00 down to $39.00. They also set an "overweight" rating in a research report on Wednesday, the 12th. Goldman Sachs Group reduced their price target for shares of Bank of America on Monday, 4th April from $39.00 down to $35.00. They also set a "buy" rating for the company. Keefe, Bruyette & Woods raised their price target for shares of Bank of America on Wednesday, April 19, from $28.00 up to $29.00. They also gave the stock a 'underperform rating'. Two analysts have given the stock a sell recommendation, seven have given it a hold recommendation and ten others have given it a buy recommendation. According to MarketBeat.com the stock currently has an average rating 'Hold,' with an average price of $36.63.

Bank of America

Get Rating
)

Bank of America Corp., a financial holding company and bank that provides banking and nonbank services. It is divided into four segments: Consumer Banking (also known as Global Wealth and Investment Management, or GWIM), Global Banking (also called Global Markets), and All Other. Consumer Banking offers credit, investment, and banking products and services for consumers and small business.

Get Rating
).

MarketBeat.com offers a FREE daily email newsletter
.