Kempner Capital Management Inc. Sells 23,757 Shares of Bank of America Co. (NYSE:BAC)

Kempner Capital Management Inc. reduced its stake in shares of Bank of America Co. (NYSE:BAC) by 15.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 134,331 shares of the financial services provider’s stock after selling 23,757 shares during the quarter. Bank of America makes up about 3.2% of Kempner Capital Management Inc.’s holdings, making the stock its 9th largest position. Kempner Capital Management Inc.’s holdings in Bank of America were worth $5,904,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Two Sigma Advisers LP lifted its stake in Bank of America by 31,021.6% in the third quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider’s stock valued at $405,049,000 after buying an additional 10,175,100 shares during the last quarter. Swedbank AB grew its position in Bank of America by 81.4% in the 4th quarter. Swedbank AB now owns 12,776,184 shares of the financial services provider’s stock valued at $561,513,000 after buying an additional 5,733,810 shares in the last quarter. KBC Group NV raised its position in shares of Bank of America by 130.9% during the 4th quarter. KBC Group NV now owns 9,692,279 shares of the financial services provider’s stock worth $425,976,000 after buying an additional 5,493,817 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Bank of America by 193.4% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider’s stock valued at $301,898,000 after acquiring an additional 5,015,378 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in Bank of America by 3,550.7% during the 3rd quarter. International Assets Investment Management LLC now owns 4,547,788 shares of the financial services provider’s stock valued at $1,804,560,000 after purchasing an additional 4,423,215 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of NYSE:BAC opened at $46.68 on Friday. The company has a market capitalization of $358.19 billion, a price-to-earnings ratio of 14.50, a P/E/G ratio of 1.27 and a beta of 1.33. The firm’s 50 day simple moving average is $45.85 and its 200 day simple moving average is $42.73. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. Bank of America Co. has a fifty-two week low of $32.35 and a fifty-two week high of $48.08.

Bank of America (NYSE:BACGet Free Report) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter last year, the business posted $0.70 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Bank of America Co. will post 3.67 earnings per share for the current year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a $0.26 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.23%. Bank of America’s dividend payout ratio (DPR) is 32.30%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BAC shares. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price objective for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Barclays upped their price target on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 6th. StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Keefe, Bruyette & Woods increased their price target on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, 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. One analyst has rated the stock with a sell rating, six have given 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 an average price target of $48.58.

Read Our Latest Stock Analysis on BAC

Bank of America Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Co. (NYSE:BACFree Report).

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

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