Janus Henderson Group PLC Acquires 632,988 Shares of Bank of America Co. (NYSE:BAC)

Janus Henderson Group PLC lifted its position in Bank of America Co. (NYSE:BAC - Free Report) by 58.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,723,030 shares of the financial services provider's stock after acquiring an additional 632,988 shares during the period. Janus Henderson Group PLC's holdings in Bank of America were worth $75,766,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Collier Financial purchased a new stake in Bank of America during the fourth quarter valued at approximately $25,000. Life Planning Partners Inc boosted its stake in Bank of America by 3,883.2% in the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 545,936 shares in the last quarter. Graney & King LLC purchased a new stake in shares of Bank of America during the fourth quarter worth about $25,000. Fairway Wealth LLC purchased a new position in Bank of America in the 4th quarter worth $29,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Bank of America in the fourth quarter worth $31,000. Institutional investors own 70.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BAC shares. Baird R W raised shares of Bank of America from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. Morgan Stanley increased their price target on shares of 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. TD Cowen assumed coverage on shares of Bank of America in a research note on Thursday. They set a "buy" rating and a $53.00 target price for the company. Truist Financial lowered their price objective on shares of Bank of America from $50.00 to $47.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, UBS Group boosted their target price on shares of Bank of America from $46.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Bank of America currently has an average rating of "Moderate Buy" and an average price target of $47.50.

Bank of America Stock Performance

Bank of America stock traded down $0.42 during mid-day trading on Thursday, hitting $44.32. 47,330,324 shares of the company's stock traded hands, compared to its average volume of 39,538,805. The firm has a 50 day simple moving average of $39.84 and a two-hundred day simple moving average of $43.52. 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 market cap of $333.81 billion, a price-to-earnings ratio of 13.76, a P/E/G ratio of 1.21 and a beta of 1.27. Bank of America Co. has a fifty-two week low of $33.07 and a fifty-two week 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.80 by $0.10. The firm 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%. On average, research analysts expect that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.35%. Bank of America's payout ratio is 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.