Bank of America Co. (NYSE:BAC) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Bank of America Co. (NYSE:BAC - Free Report) by 12.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,092,517 shares of the financial services provider's stock after acquiring an additional 5,092,504 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.59% of Bank of America worth $1,981,816,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BAC. Regent Peak Wealth Advisors LLC lifted its stake in shares of Bank of America by 10.3% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 11,971 shares of the financial services provider's stock worth $526,000 after purchasing an additional 1,116 shares in the last quarter. Cascade Investment Group Inc. lifted its stake in shares of Bank of America by 5.8% in the fourth quarter. Cascade Investment Group Inc. now owns 8,443 shares of the financial services provider's stock worth $371,000 after acquiring an additional 466 shares in the last quarter. Mandatum Life Insurance Co Ltd lifted its stake in shares of Bank of America by 0.6% in the fourth quarter. Mandatum Life Insurance Co Ltd now owns 128,910 shares of the financial services provider's stock worth $5,666,000 after acquiring an additional 800 shares in the last quarter. Annex Advisory Services LLC lifted its stake in shares of Bank of America by 4.7% in the fourth quarter. Annex Advisory Services LLC now owns 8,267 shares of the financial services provider's stock worth $363,000 after acquiring an additional 372 shares in the last quarter. Finally, Ellsworth Advisors LLC lifted its stake in shares of Bank of America by 8.6% in the fourth quarter. Ellsworth Advisors LLC now owns 47,546 shares of the financial services provider's stock worth $2,090,000 after acquiring an additional 3,745 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Wall Street Analysts Forecast Growth

BAC has been the topic of several recent analyst reports. Cowen initiated coverage on Bank of America in a research note on Wednesday, May 14th. They issued a "buy" rating on the stock. Phillip Securities upgraded Bank of America from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, April 17th. Cfra Research upped their price objective on Bank of America to $47.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Truist Financial cut their price objective on Bank of America from $50.00 to $47.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods cut their price objective on Bank of America from $55.00 to $52.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bank of America currently has an average rating of "Moderate Buy" and a consensus price target of $47.50.

Bank of America Price Performance

BAC traded down $1.48 during trading on Wednesday, reaching $43.21. The stock had a trading volume of 55,580,477 shares, compared to its average volume of 39,796,220. The firm has a market capitalization of $325.43 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 1-year low of $33.07 and a 1-year high of $48.08. The stock has a 50 day moving average of $40.27 and a two-hundred day moving average of $43.59.

Bank of America (NYSE:BAC - Get Free Report) last released its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm had revenue of $27.37 billion during the quarter, compared to the consensus estimate of $26.83 billion. As a group, equities analysts anticipate that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

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 given 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 2.41%. Bank of America's dividend payout ratio (DPR) is presently 30.95%.

Bank of America Company 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.