5,994,300 Shares in Bank of America Co. (NYSE:BAC) Acquired by Theleme Partners LLP

Theleme Partners LLP bought a new stake in shares of Bank of America Co. (NYSE:BAC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,994,300 shares of the financial services provider's stock, valued at approximately $263,449,000. Bank of America makes up about 17.7% of Theleme Partners LLP's portfolio, making the stock its 2nd biggest position. Theleme Partners LLP owned approximately 0.08% of Bank of America at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Bank of America by 4.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,940,121 shares of the financial services provider's stock valued at $173,168,000 after acquiring an additional 173,021 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of Bank of America in the 4th quarter worth $60,679,000. Arizona State Retirement System boosted its position in shares of Bank of America by 0.5% in the 4th quarter. Arizona State Retirement System now owns 2,028,439 shares of the financial services provider's stock worth $89,150,000 after purchasing an additional 10,377 shares in the last quarter. Keybank National Association OH boosted its position in shares of Bank of America by 1.1% in the 4th quarter. Keybank National Association OH now owns 3,458,616 shares of the financial services provider's stock worth $152,006,000 after purchasing an additional 38,258 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Bank of America by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 42,929,896 shares of the financial services provider's stock worth $1,886,769,000 after purchasing an additional 297,858 shares in the last quarter. Institutional investors own 70.71% of the company's stock.

Bank of America Stock Performance

Shares of BAC stock opened at $44.66 on Friday. The stock has a market cap of $336.38 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27. The business has a 50-day simple moving average of $40.03 and a 200-day simple moving average of $43.55. 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 52-week low of $33.07 and a 52-week 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 earnings per share (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 analysts' expectations of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. On average, 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 is Friday, June 6th. This represents a $1.04 annualized dividend and a dividend yield of 2.33%. Bank of America's dividend payout ratio is presently 30.95%.

Analyst Upgrades and Downgrades

BAC has been the subject of a number of recent analyst reports. Baird R W raised Bank of America from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 7th. Evercore ISI lowered their price objective on Bank of America from $51.00 to $48.00 and set an "outperform" rating for the company in a research report on Tuesday, April 1st. Cfra Research raised their price objective on Bank of America to $47.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Robert W. Baird raised Bank of America from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $45.00 to $50.00 in a research report on Friday, March 7th. Finally, Keefe, Bruyette & Woods lowered their price objective on Bank of America from $55.00 to $52.00 and set an "outperform" rating for the company in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $47.50.

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.

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