Two Sigma Advisers LP Acquires 1,469,700 Shares of Bank of America Co. (NYSE:BAC)

Two Sigma Advisers LP raised its holdings in shares of Bank of America Co. (NYSE:BAC - Free Report) by 14.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,677,600 shares of the financial services provider's stock after buying an additional 1,469,700 shares during the period. Bank of America comprises approximately 1.2% of Two Sigma Advisers LP's investment portfolio, making the stock its 11th biggest position. Two Sigma Advisers LP owned approximately 0.15% of Bank of America worth $513,231,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Collier Financial purchased a new stake in shares of Bank of America in the 4th quarter valued at approximately $25,000. Life Planning Partners Inc lifted its position in Bank of America by 3,883.2% in the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider's stock worth $25,000 after buying an additional 545,936 shares in the last quarter. Graney & King LLC acquired a new stake in shares of Bank of America during the 4th quarter valued at $25,000. Fairway Wealth LLC acquired a new stake in shares of Bank of America during the 4th quarter valued at $29,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Bank of America during the 4th quarter valued at $31,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America Stock Performance

Shares of NYSE:BAC traded down $1.48 on Wednesday, hitting $43.21. 55,580,477 shares of the company were exchanged, compared to its average volume of 39,796,177. The company's 50 day moving average price is $40.23 and its two-hundred day moving average price is $43.59. Bank of America Co. has a one year low of $33.07 and a one year high of $48.08. 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 firm has a market capitalization of $325.43 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.21 and a beta of 1.27.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company had revenue of $27.37 billion for the quarter, compared to the consensus estimate of $26.83 billion. Research analysts expect that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be issued 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 2.41%. Bank of America's payout ratio is 30.95%.

Analyst Ratings Changes

BAC has been the subject of a number of research reports. Cowen initiated coverage on shares of Bank of America in a research note on Wednesday, May 14th. They set a "buy" rating for the company. Phillip Securities raised shares of Bank of America from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, April 17th. Evercore ISI decreased their target price on shares of 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. JPMorgan Chase & Co. decreased their target price on shares of Bank of America from $49.50 to $43.50 and set an "overweight" rating for the company in a research note on Thursday, April 3rd. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Bank of America from $55.00 to $52.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $47.50.

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.