General Pension Society PZU Joint Stock Co Reduces Stake in Bank of America Co. (NYSE:BAC)

General Pension Society PZU Joint Stock Co lowered its position in Bank of America Co. (NYSE:BAC - Free Report) by 37.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 337,112 shares of the financial services provider's stock after selling 202,784 shares during the period. Bank of America comprises approximately 4.7% of General Pension Society PZU Joint Stock Co's holdings, making the stock its 10th largest position. General Pension Society PZU Joint Stock Co's holdings in Bank of America were worth $14,068,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Bank of America by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 142,289,199 shares of the financial services provider's stock worth $6,243,000,000 after acquiring an additional 2,033,229 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Bank of America by 10.6% in 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 purchasing an additional 11,691,451 shares during the last quarter. Norges Bank bought a new stake in Bank of America in the fourth quarter worth $5,226,989,000. Capital World Investors raised its stake in 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 valued at $3,876,853,000 after purchasing an additional 17,031,143 shares in the last quarter. Finally, Northern Trust Corp lifted 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 purchasing an additional 9,980,859 shares during the last quarter. Institutional investors own 70.71% of the company's stock.

Bank of America Trading Down 0.2%

BAC stock traded down $0.09 during mid-day trading on Monday, reaching $44.04. The company had a trading volume of 28,393,183 shares, compared to its average volume of 39,749,616. 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 $331.69 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27. The firm has a 50 day moving average of $40.46 and a 200 day moving average of $43.53. 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 earnings results 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 business had revenue of $27.37 billion for the quarter, compared to the consensus estimate of $26.83 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. On average, equities analysts predict that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.26 per share. The ex-dividend date is Friday, June 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.36%. Bank of America's dividend payout ratio is presently 30.95%.

Analyst Ratings Changes

BAC has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of Bank of America from $45.00 to $42.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Oppenheimer restated an "outperform" rating on shares of Bank of America in a research report on Thursday, May 22nd. Phillip Securities upgraded Bank of America from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, April 17th. Baird R W upgraded Bank of America from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 7th. Finally, Wall Street Zen downgraded Bank of America from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, Bank of America presently has an average rating of "Moderate Buy" and a consensus price target 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.