Bank of America Co. (NYSE:BAC) Shares Acquired by Point72 Europe London LLP

Point72 Europe London LLP raised its holdings in Bank of America Co. (NYSE:BAC) by 275.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 653,100 shares of the financial services provider's stock after purchasing an additional 479,200 shares during the period. Bank of America comprises approximately 1.7% of Point72 Europe London LLP's holdings, making the stock its 18th largest holding. Point72 Europe London LLP's holdings in Bank of America were worth $28,704,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Graney & King LLC acquired a new stake in shares of Bank of America in the 4th quarter valued at about $25,000. Collier Financial acquired a new stake in Bank of America during the fourth quarter valued at approximately $25,000. Fairway Wealth LLC acquired a new stake in Bank of America during the fourth quarter valued at approximately $29,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Bank of America during the 4th quarter worth approximately $31,000. Finally, Glass Jacobson Investment Advisors llc grew its position in shares of Bank of America by 53.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider's stock worth $35,000 after acquiring an additional 276 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on BAC. UBS Group upped their price target on Bank of America from $46.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Cfra Research lifted their price target on shares of Bank of America to $47.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. Argus dropped their price objective on shares of Bank of America from $53.00 to $47.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Evercore ISI cut their target price on shares of Bank of America from $51.00 to $48.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods lowered their target price on Bank of America from $55.00 to $52.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $47.25.

Bank of America Stock Performance

BAC opened at $44.82 on Thursday. 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 company has a market capitalization of $337.58 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27. The business has a 50 day moving average price of $39.84 and a two-hundred day moving average price of $43.52. Bank of America Co. has a 1-year low of $33.07 and a 1-year high of $48.08.

Bank of America (NYSE:BAC - Get Free Report) last released its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. The business had revenue of $27.37 billion during 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%. Research analysts predict that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Friday, June 6th. Bank of America's dividend payout ratio (DPR) 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.

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