Bank of America Co. (NYSE:BAC) Holdings Boosted by Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. boosted its position in Bank of America Co. (NYSE:BAC) by 2,337.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 891,374 shares of the financial services provider’s stock after purchasing an additional 854,806 shares during the quarter. Bank of America makes up approximately 4.7% of Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.’s investment portfolio, making the stock its 2nd largest holding. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.’s holdings in Bank of America were worth $39,176,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Regent Peak Wealth Advisors LLC grew its stake in Bank of America by 10.3% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 11,971 shares of the financial services provider’s stock valued at $526,000 after purchasing an additional 1,116 shares during the last quarter. Cascade Investment Group Inc. lifted its position in shares of Bank of America by 5.8% during the 4th quarter. Cascade Investment Group Inc. now owns 8,443 shares of the financial services provider’s stock valued at $371,000 after buying an additional 466 shares in the last quarter. Mandatum Life Insurance Co Ltd grew its position in shares of Bank of America by 0.6% in the fourth quarter. Mandatum Life Insurance Co Ltd now owns 128,910 shares of the financial services provider’s stock valued at $5,666,000 after purchasing an additional 800 shares during the period. Annex Advisory Services LLC increased its stake in Bank of America by 4.7% during the 4th quarter. Annex Advisory Services LLC now owns 8,267 shares of the financial services provider’s stock worth $363,000 after buying an additional 372 shares in the last quarter. Finally, Ellsworth Advisors LLC raised its stake in Bank of America by 8.6% in the 4th quarter. Ellsworth Advisors LLC now owns 47,546 shares of the financial services provider’s stock valued at $2,090,000 after purchasing an additional 3,745 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of NYSE BAC opened at $44.74 on Tuesday. Bank of America Co. has a 1-year low of $33.07 and a 1-year high of $48.08. The company has a market cap of $336.98 billion, a PE ratio of 13.89, a P/E/G ratio of 1.21 and a beta of 1.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a fifty day moving average price of $40.13 and a 200 day moving average price of $43.59.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. The firm had revenue of $27.37 billion for 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%. Sell-side analysts forecast that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.32%. The ex-dividend date is Friday, June 6th. Bank of America’s payout ratio is currently 30.95%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BAC. TD Cowen assumed coverage on shares of Bank of America in a report on Thursday, May 15th. They issued a “buy” rating and a $53.00 price objective for the company. Piper Sandler cut their target price on Bank of America from $45.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Truist Financial reduced their price target on shares of Bank of America from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Cfra Research increased their price target on Bank of America to $47.00 and gave the company a “buy” rating in a research report on Wednesday, April 16th. Finally, Evercore ISI lowered their target price on shares of Bank of America from $51.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

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 in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.