Bank of America Corp (NYSE:BAC) Stock Position Boosted by Janus Henderson Group PLC

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Janus Henderson Group PLC boosted its stake in Bank of America Corp (NYSE:BAC) by 6.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,765,866 shares of the financial services provider’s stock after buying an additional 717,547 shares during the period. Janus Henderson Group PLC owned 0.13% of Bank of America worth $414,368,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BAC. Asset Advisors Investment Management LLC lifted its stake in Bank of America by 2.7% during the fourth quarter. Asset Advisors Investment Management LLC now owns 11,302 shares of the financial services provider’s stock valued at $399,000 after buying an additional 300 shares in the last quarter. Hall Capital Management Co. Inc. lifted its stake in Bank of America by 2.0% during the fourth quarter. Hall Capital Management Co. Inc. now owns 14,954 shares of the financial services provider’s stock valued at $527,000 after buying an additional 300 shares in the last quarter. Noesis Capital Mangement Corp lifted its stake in Bank of America by 4.2% during the fourth quarter. Noesis Capital Mangement Corp now owns 7,661 shares of the financial services provider’s stock valued at $270,000 after buying an additional 311 shares in the last quarter. Wesbanco Bank Inc. lifted its stake in Bank of America by 0.6% during the fourth quarter. Wesbanco Bank Inc. now owns 51,961 shares of the financial services provider’s stock valued at $1,830,000 after buying an additional 313 shares in the last quarter. Finally, Charter Research & Investment Group Inc. lifted its stake in Bank of America by 0.4% during the fourth quarter. Charter Research & Investment Group Inc. now owns 78,020 shares of the financial services provider’s stock valued at $2,748,000 after buying an additional 325 shares in the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.

A number of analysts have commented on BAC shares. BMO Capital Markets lowered shares of Bank of America from an “outperform” rating to a “market perform” rating and set a $37.00 price objective for the company. in a research note on Thursday, January 2nd. UBS Group lowered shares of Bank of America from a “buy” rating to a “neutral” rating and upped their price objective for the company from $34.00 to $36.00 in a research note on Monday, January 6th. Wolfe Research lowered shares of Bank of America from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Deutsche Bank reduced their price objective on shares of Bank of America from $33.00 to $25.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, Robert W. Baird raised shares of Bank of America from a “neutral” rating to an “outperform” rating and set a $34.00 price objective for the company in a research note on Tuesday, March 17th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company’s stock. Bank of America presently has an average rating of “Hold” and a consensus target price of $34.16.

NYSE BAC opened at $21.03 on Wednesday. The company has a 50 day simple moving average of $28.93 and a 200-day simple moving average of $31.44. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.91 and a quick ratio of 0.90. The firm has a market capitalization of $183.48 billion, a price-to-earnings ratio of 7.68, a price-to-earnings-growth ratio of 0.88 and a beta of 1.63. Bank of America Corp has a 52-week low of $17.95 and a 52-week high of $35.72.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $22.30 billion during the quarter, compared to analyst estimates of $22.30 billion. Bank of America had a net margin of 24.15% and a return on equity of 11.95%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 earnings per share. On average, analysts predict that Bank of America Corp will post 2.92 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 6th will be issued a $0.18 dividend. The ex-dividend date is Thursday, March 5th. This represents a $0.72 dividend on an annualized basis and a yield of 3.42%. Bank of America’s dividend payout ratio is currently 24.49%.

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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