Bank of America Co. (NYSE:BAC) Stock Holdings Increased by Deutsche Bank AG

Deutsche Bank AG boosted its position in shares of Bank of America Co. (NYSE:BAC - Free Report) by 39.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,152,004 shares of the financial services provider's stock after purchasing an additional 9,409,076 shares during the quarter. Bank of America makes up 0.6% of Deutsche Bank AG's portfolio, making the stock its 23rd biggest holding. Deutsche Bank AG owned 0.43% of Bank of America worth $1,457,031,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Bank of America in the fourth quarter valued at $5,226,989,000. Capital World Investors boosted its stake in shares of Bank of America by 23.9% during the 4th 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 last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Bank of America by 10.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 122,437,422 shares of the financial services provider's stock worth $5,381,126,000 after buying an additional 11,691,451 shares in the last quarter. Amundi raised its position in shares of Bank of America by 37.1% in the fourth quarter. Amundi now owns 37,819,980 shares of the financial services provider's stock valued at $1,747,658,000 after buying an additional 10,231,001 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of 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 buying an additional 9,980,859 shares during the period. Institutional investors and hedge funds own 70.71% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Truist Financial cut their price target on Bank of America from $50.00 to $47.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Citigroup dropped their target price on Bank of America from $54.00 to $50.00 and set a "buy" rating for the company in a research note on Monday, March 24th. Piper Sandler decreased their price target on Bank of America from $45.00 to $42.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Evercore ISI dropped their price objective 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. Finally, Baird R W upgraded shares of Bank of America from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Bank of America currently has an average rating of "Moderate Buy" and a consensus price target of $47.25.

Bank of America Stock Up 0.6 %

Shares of BAC traded up $0.25 during mid-day trading on Friday, reaching $41.85. 27,222,454 shares of the stock traded hands, compared to its average volume of 39,301,444. The firm has a market cap of $315.21 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 1.21 and a beta of 1.27. The stock has a fifty day simple moving average of $39.69 and a 200 day simple moving average of $43.48. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 12-month low of $33.07 and a 12-month high of $48.08.

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 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. The firm had revenue of $27.37 billion for the quarter, compared to analyst estimates of $26.83 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. Sell-side analysts expect that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Friday, June 6th. Bank of America's payout ratio is currently 30.95%.

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.