Generali Investments Towarzystwo Funduszy Inwestycyjnych Has $2.25 Million Stock Position in Bank of America Co. (NYSE:BAC)

Generali Investments Towarzystwo Funduszy Inwestycyjnych lowered its stake in Bank of America Co. (NYSE:BAC) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 51,279 shares of the financial services provider’s stock after selling 500 shares during the quarter. Bank of America makes up approximately 1.3% of Generali Investments Towarzystwo Funduszy Inwestycyjnych’s investment portfolio, making the stock its 23rd largest position. Generali Investments Towarzystwo Funduszy Inwestycyjnych’s holdings in Bank of America were worth $2,254,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Collier Financial acquired a new position in Bank of America during the fourth quarter worth approximately $25,000. Kennebec Savings Bank acquired a new position in Bank of America during the third quarter worth approximately $29,000. Highline Wealth Partners LLC increased its position in Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after buying an additional 510 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Bank of America during the fourth quarter worth approximately $42,000. Finally, POM Investment Strategies LLC increased its position in Bank of America by 1,306.5% during the fourth quarter. POM Investment Strategies LLC now owns 1,083 shares of the financial services provider’s stock worth $48,000 after buying an additional 1,006 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Up 0.5 %

NYSE BAC opened at $44.17 on Friday. The business has a fifty day moving average price of $45.74 and a two-hundred day moving average price of $43.50. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. Bank of America Co. has a fifty-two week low of $34.03 and a fifty-two week high of $48.08. The stock has a market capitalization of $338.87 billion, a PE ratio of 13.72, a PEG ratio of 1.21 and a beta of 1.33.

Bank of America (NYSE:BAC) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same period in the prior year, the company earned $0.70 earnings per share. The company’s quarterly revenue was up 15.0% on a year-over-year basis. Equities analysts expect that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently announced 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 2.35%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America’s payout ratio is presently 32.30%.

Analyst Ratings Changes

A number of equities analysts have weighed in on BAC shares. Oppenheimer boosted their price target on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. Evercore ISI reduced their price objective on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Wells Fargo & Company boosted their price objective on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Morgan Stanley boosted their price objective on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America 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.