Bank of America Co. (NYSE:BAC) Holdings Raised by Capital International Ltd. CA

Capital International Ltd. CA lifted its position in Bank of America Co. (NYSE:BAC) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 380,322 shares of the financial services provider’s stock after buying an additional 4,695 shares during the quarter. Capital International Ltd. CA’s holdings in Bank of America were worth $16,715,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Collier Financial bought a new position in shares of Bank of America in the fourth quarter valued at approximately $25,000. Life Planning Partners Inc grew its position in Bank of America by 3,883.2% during the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after buying an additional 545,936 shares in the last quarter. Graney & King LLC bought a new stake in shares of Bank of America during the fourth quarter valued at approximately $25,000. Fairway Wealth LLC acquired a new position in shares of Bank of America in the 4th quarter valued at $29,000. Finally, Glass Jacobson Investment Advisors llc lifted its stake in Bank of America by 53.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 276 shares during the period. 70.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BAC shares. Royal Bank of Canada reduced their target price on shares of Bank of America from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Argus lowered their target price on shares of Bank of America from $53.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday. JPMorgan Chase & Co. lowered their price target on Bank of America from $49.50 to $43.50 and set an “overweight” rating for the company in a research note on Thursday, April 3rd. Finally, Robert W. Baird raised Bank of America from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $45.00 to $50.00 in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and three have assigned 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 a consensus price target of $47.20.

Bank of America Stock Performance

Shares of BAC stock opened at $37.44 on Friday. The stock has a market cap of $284.65 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.21 and a beta of 1.24. The company has a fifty day moving average price of $41.46 and a two-hundred day moving average price of $43.60. Bank of America Co. has a one year low of $33.07 and a one year high of $48.08. 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 earnings results on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.80 by $0.10. The company had revenue of $27.37 billion during the quarter, compared to the consensus estimate of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. As a group, equities analysts predict that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.78%. Bank of America’s dividend payout ratio (DPR) is currently 30.95%.

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.