Bank of America Co. (NYSE:BAC) Shares Purchased by Capital International Inc. CA

Capital International Inc. CA lifted its holdings in shares of Bank of America Co. (NYSE:BAC) by 31.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 589,574 shares of the financial services provider’s stock after purchasing an additional 141,881 shares during the quarter. Capital International Inc. CA’s holdings in Bank of America were worth $25,912,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Lederer & Associates Investment Counsel CA raised its position in shares of Bank of America by 1.1% during the 4th quarter. Lederer & Associates Investment Counsel CA now owns 20,000 shares of the financial services provider’s stock worth $879,000 after acquiring an additional 217 shares in the last quarter. Avalon Trust Co raised its position in Bank of America by 14.6% in the 4th quarter. Avalon Trust Co now owns 1,719 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 219 shares during the last quarter. Prossimo Advisors LLC raised its stake in Bank of America by 2.5% during the 4th quarter. Prossimo Advisors LLC now owns 8,880 shares of the financial services provider’s stock valued at $390,000 after acquiring an additional 220 shares during the last quarter. Marino Stram & Associates LLC increased its stake in Bank of America by 1.7% in the 4th quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock valued at $580,000 after buying an additional 222 shares during the period. Finally, Keudell Morrison Wealth Management lifted its position in Bank of America by 2.8% in the fourth quarter. Keudell Morrison Wealth Management now owns 8,291 shares of the financial services provider’s stock valued at $364,000 after purchasing an additional 223 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

BAC opened at $37.44 on Friday. The company has a 50 day moving average of $41.27 and a two-hundred day moving average of $43.59. Bank of America Co. has a 52-week low of $33.07 and a 52-week high of $48.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The company has a market cap of $284.65 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.21 and a beta of 1.24.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.10. The firm had revenue of $27.37 billion during the quarter, compared to the consensus estimate of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. On average, analysts expect 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 was paid on Friday, March 28th. Investors of record on Friday, March 7th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.78%. The ex-dividend date was Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is 30.95%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BAC. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Morgan Stanley increased their price target on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. Citigroup decreased their price objective on shares of Bank of America from $54.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, March 24th. Keefe, Bruyette & Woods dropped their target price on shares of Bank of America from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Robert W. Baird raised Bank of America from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $45.00 to $50.00 in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.20.

About Bank of America

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.