Bank of America Co. (NYSE:BAC) Holdings Cut by General Pension Society PZU Joint Stock Co

General Pension Society PZU Joint Stock Co decreased its position in shares of Bank of America Co. (NYSE:BAC - Free Report) by 10.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 539,896 shares of the financial services provider's stock after selling 66,000 shares during the period. Bank of America accounts for about 7.3% of General Pension Society PZU Joint Stock Co's investment portfolio, making the stock its 7th largest position. General Pension Society PZU Joint Stock Co's holdings in Bank of America were worth $23,728,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Bank of America by 4.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,940,121 shares of the financial services provider's stock worth $173,168,000 after purchasing an additional 173,021 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of Bank of America during the fourth quarter valued at approximately $60,679,000. Arizona State Retirement System raised its position in shares of Bank of America by 0.5% during the fourth quarter. Arizona State Retirement System now owns 2,028,439 shares of the financial services provider's stock valued at $89,150,000 after buying an additional 10,377 shares during the last quarter. Keybank National Association OH lifted its holdings in shares of Bank of America by 1.1% in the fourth quarter. Keybank National Association OH now owns 3,458,616 shares of the financial services provider's stock worth $152,006,000 after buying 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% during the fourth 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 acquiring an additional 297,858 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Bank of America Trading Down 0.2%

Bank of America stock traded down $0.10 during mid-day trading on Friday, hitting $44.14. The company's stock had a trading volume of 66,528,527 shares, compared to its average volume of 39,868,402. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The company has a 50 day moving average of $40.46 and a 200-day moving average of $43.56. Bank of America Co. has a one year low of $33.07 and a one year high of $48.08. The stock has a market cap of $332.46 billion, a PE ratio of 13.71, a P/E/G ratio of 1.21 and a beta of 1.27.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly 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 firm had revenue of $27.37 billion for the quarter, compared to analysts' expectations of $26.83 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. On average, research analysts anticipate that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BAC. Wall Street Zen downgraded shares of Bank of America from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Cfra Research lifted their target price on Bank of America to $47.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. Evercore ISI dropped their price target on 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. Oppenheimer restated an "outperform" rating on shares of Bank of America in a report on Thursday, May 22nd. Finally, Piper Sandler decreased their price objective on Bank of America from $45.00 to $42.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock 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.