Mizuho Securities USA LLC Buys 194,922 Shares of Bank of America Co. (NYSE:BAC)

Mizuho Securities USA LLC grew its stake in shares of Bank of America Co. (NYSE:BAC) by 44.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 632,677 shares of the financial services provider’s stock after acquiring an additional 194,922 shares during the quarter. Bank of America comprises approximately 0.5% of Mizuho Securities USA LLC’s portfolio, making the stock its 28th biggest position. Mizuho Securities USA LLC’s holdings in Bank of America were worth $27,806,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of BAC. Collier Financial purchased a new position in Bank of America in the fourth quarter worth about $25,000. Life Planning Partners Inc raised its holdings in Bank of America by 3,883.2% in the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 545,936 shares during the last quarter. Fairway Wealth LLC bought a new position in Bank of America in the 4th quarter valued at approximately $29,000. Highline Wealth Partners LLC lifted its position in Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 510 shares in the last quarter. Finally, Mascoma Wealth Management LLC boosted its stake in Bank of America by 68.2% during the 4th quarter. Mascoma Wealth Management LLC now owns 890 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 361 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of NYSE BAC opened at $42.47 on Friday. The stock has a market cap of $322.88 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32. Bank of America Co. has a 1 year low of $34.15 and a 1 year high of $48.08. The firm has a fifty day moving average price of $44.81 and a 200-day moving average price of $43.77. 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 (NYSE:BAC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the prior year, the business posted $0.70 EPS. Bank of America’s revenue for the quarter was up 15.0% compared to the same quarter last year. Equities analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.26 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.45%. Bank of America’s dividend payout ratio is presently 32.30%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Robert W. Baird raised Bank of America from a “neutral” rating to an “outperform” rating and upped their price target for the company from $45.00 to $50.00 in a report on Friday, March 7th. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Evercore ISI reduced their price target on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. Baird R W upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. Finally, Morgan Stanley raised their target price on shares of 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 research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and an average target price of $48.64.

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.