Caxton Associates LP Buys Shares of 67,887 Bank of America Co. (NYSE:BAC)

Caxton Associates LP acquired a new stake in Bank of America Co. (NYSE:BAC - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 67,887 shares of the financial services provider's stock, valued at approximately $2,984,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Bank of America in the 4th quarter worth $5,226,989,000. Capital World Investors boosted its holdings in shares of Bank of America by 23.9% during the fourth quarter. Capital World Investors now owns 88,210,527 shares of the financial services provider's stock worth $3,876,853,000 after purchasing an additional 17,031,143 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Bank of America by 10.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 122,437,422 shares of the financial services provider's stock valued at $5,381,126,000 after acquiring an additional 11,691,451 shares in the last quarter. Amundi raised its stake in shares of Bank of America by 37.1% during the 4th quarter. Amundi now owns 37,819,980 shares of the financial services provider's stock worth $1,747,658,000 after purchasing an additional 10,231,001 shares in the last quarter. Finally, Northern Trust Corp raised its position in Bank of America by 17.2% during the fourth quarter. Northern Trust Corp now owns 67,935,940 shares of the financial services provider's stock valued at $2,985,785,000 after acquiring an additional 9,980,859 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on BAC. Cfra Research lifted their price target on shares of Bank of America to $47.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Oppenheimer lifted their price target on shares of Bank of America from $50.00 to $51.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Robert W. Baird raised Bank of America from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $45.00 to $50.00 in a report on Friday, March 7th. 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 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $47.25.

Bank of America Stock Down 0.6 %

BAC traded down $0.26 during trading on Tuesday, reaching $40.86. 29,470,622 shares of the stock were exchanged, compared to its average volume of 39,256,477. Bank of America Co. has a twelve month low of $33.07 and a twelve month high of $48.08. The stock has a market cap of $310.62 billion, a P/E ratio of 12.69, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27. The stock's 50 day moving average price is $39.89 and its two-hundred day moving average price is $43.50. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.10. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company had revenue of $27.37 billion for the quarter, compared to analyst estimates of $26.83 billion. Equities analysts expect that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.55%. Bank of America's dividend payout ratio (DPR) is presently 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.