Quilter Plc Has $65.09 Million Stock Holdings in Bank of America Corporation (NYSE:BAC)

Quilter Plc increased its stake in shares of Bank of America Corporation (NYSE:BAC) by 2.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,559,800 shares of the financial services provider's stock after purchasing an additional 29,930 shares during the quarter. Bank of America makes up approximately 1.4% of Quilter Plc's portfolio, making the stock its 28th largest position. Quilter Plc's holdings in Bank of America were worth $65,090,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Bank of America during the fourth quarter worth $5,226,989,000. Capital World Investors raised its stake in shares of Bank of America by 23.9% during the 4th quarter. Capital World Investors now owns 88,210,527 shares of the financial services provider's stock worth $3,876,853,000 after purchasing an additional 17,031,143 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Bank of America by 10.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 122,437,422 shares of the financial services provider's stock valued at $5,381,126,000 after buying an additional 11,691,451 shares during the last quarter. Amundi grew its stake in shares of Bank of America by 37.1% in the 4th quarter. Amundi now owns 37,819,980 shares of the financial services provider's stock valued at $1,747,658,000 after buying an additional 10,231,001 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Bank of America by 17.2% in the fourth quarter. Northern Trust Corp now owns 67,935,940 shares of the financial services provider's stock worth $2,985,785,000 after buying an additional 9,980,859 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Price Performance

Shares of NYSE:BAC opened at $47.51 on Friday. The firm has a market capitalization of $357.83 billion, a PE ratio of 14.14, a PEG ratio of 1.27 and a beta of 1.30. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 1.11. Bank of America Corporation has a 1-year low of $33.07 and a 1-year high of $48.08. The business's 50 day moving average is $43.12 and its 200-day moving average is $43.34.

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 the consensus estimate of $0.80 by $0.10. The firm 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 10.25% and a net margin of 14.56%. Sell-side analysts predict that Bank of America Corporation will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders 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 2.19%. Bank of America's dividend payout ratio (DPR) is currently 30.95%.

Wall Street Analysts Forecast Growth

Several analysts have commented on BAC shares. Citigroup boosted their target price on shares of Bank of America from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday. TD Cowen began coverage on Bank of America in a report on Thursday, May 15th. They set a "buy" rating and a $53.00 target price on the stock. Wall Street Zen downgraded Bank of America from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Keefe, Bruyette & Woods lowered their price objective on Bank of America from $55.00 to $52.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Finally, Robert W. Baird raised Bank of America from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $45.00 to $50.00 in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, nineteen have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $47.56.

Bank of America 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.

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