IFM Investors Pty Ltd boosted its holdings in Bank of America Corporation (NYSE:BAC) by 33.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 273,990 shares of the financial services provider’s stock after acquiring an additional 68,533 shares during the period. Bank of America Corporation accounts for 1.7% of IFM Investors Pty Ltd’s holdings, making the stock its 9th biggest position. IFM Investors Pty Ltd’s holdings in Bank of America Corporation were worth $6,647,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Korea Investment CORP raised its stake in Bank of America Corporation by 0.5% in the 2nd quarter. Korea Investment CORP now owns 78,908,445 shares of the financial services provider’s stock valued at $1,914,319,000 after acquiring an additional 390,771 shares during the period. Legal & General Group Plc raised its stake in Bank of America Corporation by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 50,797,049 shares of the financial services provider’s stock valued at $1,232,414,000 after acquiring an additional 1,007,405 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Bank of America Corporation by 0.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 33,108,834 shares of the financial services provider’s stock valued at $803,221,000 after acquiring an additional 173,379 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Bank of America Corporation by 1.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 30,340,696 shares of the financial services provider’s stock valued at $736,065,000 after acquiring an additional 553,349 shares during the period. Finally, APG Asset Management N.V. raised its stake in Bank of America Corporation by 14.8% in the 2nd quarter. APG Asset Management N.V. now owns 30,054,575 shares of the financial services provider’s stock valued at $729,124,000 after acquiring an additional 3,868,186 shares during the period. Institutional investors and hedge funds own 62.19% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $30.00 price target (up previously from $29.00) on shares of Bank of America Corporation in a research note on Friday, July 21st. BidaskClub upgraded Bank of America Corporation from a “sell” rating to a “hold” rating in a research report on Friday, September 22nd. BMO Capital Markets reiterated a “market perform” rating and set a $29.00 price objective (up previously from $27.00) on shares of Bank of America Corporation in a research report on Monday, October 16th. UBS AG set a $27.00 price objective on Bank of America Corporation and gave the stock a “hold” rating in a research report on Monday, October 16th. Finally, Wells Fargo & Company initiated coverage on Bank of America Corporation in a research report on Wednesday, August 9th. They set an “outperform” rating and a $30.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-four have given a buy rating and three have issued a strong buy rating to the company. Bank of America Corporation presently has an average rating of “Buy” and an average price target of $25.82.

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Bank of America Corporation (NYSE BAC) opened at $26.62 on Friday. Bank of America Corporation has a 1 year low of $19.87 and a 1 year high of $27.98. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.90 and a current ratio of 0.91. The stock has a market capitalization of $279,120.00, a PE ratio of 14.99, a PEG ratio of 1.82 and a beta of 1.31.

Bank of America Corporation (NYSE:BAC) last issued its quarterly earnings data on Friday, October 13th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.02. Bank of America Corporation had a return on equity of 8.33% and a net margin of 20.66%. The company had revenue of $22.08 billion during the quarter, compared to the consensus estimate of $22.07 billion. During the same period last year, the company earned $0.41 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. research analysts predict that Bank of America Corporation will post 1.8 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.80%. Bank of America Corporation’s dividend payout ratio (DPR) is 27.91%.

Bank of America Corporation Company Profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.

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Institutional Ownership by Quarter for Bank of America Corporation (NYSE:BAC)

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