Nissay Asset Management Corp Japan ADV Has $38.02 Million Position in Bank of America Co. (NYSE:BAC)

Nissay Asset Management Corp Japan ADV lessened its holdings in shares of Bank of America Co. (NYSE:BAC - Free Report) by 16.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 857,534 shares of the financial services provider's stock after selling 164,933 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Bank of America were worth $38,023,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Collier Financial bought a new stake in Bank of America in the 4th quarter valued at approximately $25,000. Life Planning Partners Inc lifted its stake 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 valued at $25,000 after acquiring an additional 545,936 shares in the last quarter. Graney & King LLC acquired a new position in shares of Bank of America during the 4th quarter worth approximately $25,000. Fairway Wealth LLC acquired a new position in shares of Bank of America during the 4th quarter worth approximately $29,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Bank of America during the 4th quarter worth approximately $31,000. Institutional investors own 70.71% of the company's stock.

Bank of America Stock Performance

Shares of BAC stock opened at $44.28 on Wednesday. The business's 50-day moving average price is $39.77 and its 200-day moving average price is $43.51. Bank of America Co. has a 12 month low of $33.07 and a 12 month high of $48.08. The firm has a market capitalization of $333.51 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.21 and a beta of 1.27. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.10. The firm had revenue of $27.37 billion for the quarter, compared to analyst estimates of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Equities research analysts forecast that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Friday, June 6th. Bank of America's dividend payout ratio is currently 30.95%.

Wall Street Analyst Weigh In

Several research firms have weighed in on BAC. Evercore ISI lowered their price target on Bank of America from $51.00 to $48.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st. Piper Sandler lowered their price target on Bank of America from $45.00 to $42.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Citigroup decreased their target price on Bank of America from $54.00 to $50.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Baird R W raised Bank of America from a "hold" rating to a "strong-buy" rating in a report on Friday, March 7th. Finally, Phillip Securities raised Bank of America from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $47.25.

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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