Bank of America Corp DE Acquires 76,710 Shares of Noah Holdings Limited (NYSE:NOAH)

Bank of America Corp DE lifted its position in Noah Holdings Limited (NYSE:NOAH - Free Report) by 1,066.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,902 shares of the asset manager's stock after purchasing an additional 76,710 shares during the quarter. Bank of America Corp DE owned about 0.13% of Noah worth $982,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its holdings in shares of Noah by 1,188.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager's stock worth $28,000 after purchasing an additional 2,187 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new stake in Noah during the fourth quarter worth approximately $39,000. Barclays PLC increased its stake in Noah by 14.0% during the fourth quarter. Barclays PLC now owns 28,660 shares of the asset manager's stock worth $335,000 after acquiring an additional 3,524 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Noah during the fourth quarter worth approximately $72,000. Finally, Hsbc Holdings PLC bought a new stake in Noah during the fourth quarter worth approximately $150,000. 42.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on NOAH. UBS Group reissued a "neutral" rating and set a $11.50 price objective on shares of Noah in a research note on Friday, March 28th. JPMorgan Chase & Co. raised Noah from a "neutral" rating to an "overweight" rating and set a $11.50 price objective on the stock in a research note on Wednesday, April 9th. Finally, Wall Street Zen cut Noah from a "buy" rating to a "hold" rating in a research note on Thursday, March 20th.

Noah Stock Up 1.7%

NYSE NOAH traded up $0.21 during trading hours on Wednesday, hitting $12.13. 602,458 shares of the company were exchanged, compared to its average volume of 175,088. The stock has a market cap of $802.29 million, a PE ratio of 10.36 and a beta of 0.84. The stock has a 50-day moving average price of $9.53 and a 200 day moving average price of $10.62. Noah Holdings Limited has a 52 week low of $7.14 and a 52 week high of $14.90.

Noah (NYSE:NOAH - Get Free Report) last released its earnings results on Wednesday, May 28th. The asset manager reported $0.33 EPS for the quarter. The firm had revenue of $84.69 million for the quarter. Noah had a return on equity of 6.43% and a net margin of 23.53%. As a group, sell-side analysts anticipate that Noah Holdings Limited will post 0.93 earnings per share for the current year.

Noah Profile

Noah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and enterprises in Mainland of China, Hong Kong, and internationally. It operates through three segments: Wealth Management, Asset Management, and Other Services.