Odey Holdings AG Has $57,000 Holdings in Bank of America Corp (BAC)

Odey Holdings AG lessened its holdings in Bank of America Corp (NYSE:BAC) by 50.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,300 shares of the financial services provider’s stock after selling 2,300 shares during the quarter. Bank of America accounts for approximately 4.0% of Odey Holdings AG’s holdings, making the stock its 15th biggest holding. Odey Holdings AG’s holdings in Bank of America were worth $57,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Cranbrook Wealth Management LLC lifted its position in Bank of America by 86.1% during the 4th quarter. Cranbrook Wealth Management LLC now owns 1,081 shares of the financial services provider’s stock worth $27,000 after buying an additional 500 shares in the last quarter. Karp Capital Management Corp acquired a new position in Bank of America during the 4th quarter worth about $31,000. Semmax Financial Advisors Inc. acquired a new position in Bank of America during the 4th quarter worth about $34,000. NewSquare Capital LLC lifted its position in Bank of America by 50.0% during the 4th quarter. NewSquare Capital LLC now owns 1,500 shares of the financial services provider’s stock worth $37,000 after buying an additional 500 shares in the last quarter. Finally, Intercontinental Wealth Advisors LLC acquired a new position in Bank of America during the 4th quarter worth about $41,000. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America stock opened at $29.88 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.91 and a current ratio of 0.92. Bank of America Corp has a 1 year low of $22.66 and a 1 year high of $31.91. The stock has a market cap of $305.67 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 1.31 and a beta of 1.47.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, April 16th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Bank of America had a net margin of 25.45% and a return on equity of 11.66%. The company had revenue of $23 billion for the quarter, compared to the consensus estimate of $23.24 billion. During the same period in the prior year, the company posted $0.62 EPS. The company’s revenue was down .4% compared to the same quarter last year. On average, analysts forecast that Bank of America Corp will post 2.85 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were given a dividend of $0.15 per share. The ex-dividend date was Thursday, February 28th. This represents a $0.60 dividend on an annualized basis and a yield of 2.01%. Bank of America’s payout ratio is presently 22.99%.

Several brokerages recently issued reports on BAC. Zacks Investment Research downgraded shares of Bank of America from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Jefferies Financial Group downgraded shares of Bank of America from a “buy” rating to a “hold” rating in a research report on Wednesday. ValuEngine downgraded shares of Bank of America from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. HSBC began coverage on shares of Bank of America in a research report on Thursday, April 4th. They set a “hold” rating and a $29.00 price target on the stock. Finally, Barclays reiterated a “hold” rating on shares of Bank of America in a research report on Thursday, January 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $33.24.

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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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

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

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