Bank of America Co. (NYSE:BAC) Shares Purchased by Bailard Inc.

Bailard Inc. increased its stake in shares of Bank of America Co. (NYSE:BAC) by 1.1% in the 4th quarter, HoldingsChannel reports. The firm owned 270,703 shares of the financial services provider’s stock after purchasing an additional 3,034 shares during the period. Bailard Inc.’s holdings in Bank of America were worth $11,897,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of BAC. Two Sigma Advisers LP grew its stake in Bank of America by 31,021.6% during the 3rd quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider’s stock worth $405,049,000 after purchasing an additional 10,175,100 shares in the last quarter. Swedbank AB grew its stake in Bank of America by 81.4% during the 4th quarter. Swedbank AB now owns 12,776,184 shares of the financial services provider’s stock worth $561,513,000 after purchasing an additional 5,733,810 shares in the last quarter. KBC Group NV grew its stake in 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 purchasing an additional 5,493,817 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Bank of America by 193.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider’s stock worth $301,898,000 after purchasing an additional 5,015,378 shares in the last quarter. Finally, D1 Capital Partners L.P. purchased a new stake in Bank of America during the 3rd quarter worth about $174,858,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Stock Up 4.7 %

BAC opened at $46.19 on Friday. The business has a 50 day moving average price of $45.78 and a two-hundred day moving average price of $43.59. 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 $354.37 billion, a PE ratio of 14.34, a P/E/G ratio of 1.21 and a beta of 1.33. Bank of America Co. has a 52 week low of $34.03 and a 52 week high of $48.08.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.77 by $0.05. The firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 EPS. As a group, research analysts anticipate that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s dividend payout ratio is presently 32.30%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BAC shares. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $46.00 to $54.00 in a report on Friday, November 8th. Keefe, Bruyette & Woods lifted their price target on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Oppenheimer lifted their price target on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, Truist Financial lifted their price target on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, January 17th. One investment 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.58.

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.