iSAM Funds UK Ltd Takes $1.64 Million Position in Bank of America Co. (NYSE:BAC)

iSAM Funds UK Ltd acquired a new stake in shares of Bank of America Co. (NYSE:BAC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 37,415 shares of the financial services provider’s stock, valued at approximately $1,644,000. Bank of America comprises approximately 1.2% of iSAM Funds UK Ltd’s investment portfolio, making the stock its 5th largest position.

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

Bank of America Stock Up 0.1%

Shares of NYSE BAC opened at $44.74 on Tuesday. Bank of America Co. has a 52-week low of $33.07 and a 52-week high of $48.08. The firm has a market capitalization of $336.98 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 1.21 and a beta of 1.27. The stock has a 50 day moving average price of $40.13 and a 200 day moving average price of $43.59. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78.

Bank of America (NYSE:BAC) last issued its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.10. The business had revenue of $27.37 billion during the quarter, compared to analysts’ expectations of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Sell-side analysts expect that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America’s payout ratio is 30.95%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BAC. Cfra Research raised their target price on Bank of America to $47.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. Cowen initiated coverage on Bank of America in a research report on Wednesday, May 14th. They set a “buy” rating on the stock. Oppenheimer boosted their price objective on Bank of America from $50.00 to $51.00 and gave the company an “outperform” rating in a research note on Monday, April 28th. UBS Group raised their target price on shares of Bank of America from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, April 16th. Finally, Barclays dropped their price target on shares of Bank of America from $58.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

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