O Shaughnessy Asset Management LLC Has $49.68 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

O Shaughnessy Asset Management LLC grew its stake in shares of Bank of America Co. (NYSE:BAC) by 4.0% during the 4th quarter, Holdings Channel reports. The firm owned 1,130,368 shares of the financial services provider’s stock after buying an additional 43,531 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Bank of America were worth $49,680,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Bank of America during the fourth quarter worth $5,226,989,000. Amundi grew its position in shares of Bank of America by 37.1% in the 4th quarter. Amundi now owns 37,819,980 shares of the financial services provider’s stock valued at $1,747,658,000 after acquiring an additional 10,231,001 shares during the period. Two Sigma Advisers LP increased its stake in shares of 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 during the last quarter. Swedbank AB raised its holdings in shares of Bank of America by 81.4% in the 4th quarter. Swedbank AB now owns 12,776,184 shares of the financial services provider’s stock valued at $561,513,000 after purchasing an additional 5,733,810 shares during the period. Finally, KBC Group NV lifted its stake in Bank of America by 130.9% in the 4th quarter. KBC Group NV now owns 9,692,279 shares of the financial services provider’s stock valued at $425,976,000 after purchasing an additional 5,493,817 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Oppenheimer upped their price objective on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Morgan Stanley increased their price target on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Barclays raised their price target on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Baird R W upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. Finally, Piper Sandler lowered their target price on Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.45.

Bank of America Stock Performance

NYSE BAC opened at $41.24 on Friday. The firm’s 50 day simple moving average is $44.45 and its 200 day simple moving average is $43.89. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 1 year low of $34.15 and a 1 year high of $48.08. The firm has a market capitalization of $313.50 billion, a price-to-earnings ratio of 12.81, a P/E/G ratio of 1.21 and a beta of 1.32.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Bank of America’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.70 EPS. As a group, research 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 business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were given a $0.26 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.52%. Bank of America’s dividend payout ratio is currently 32.30%.

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.