IHT Wealth Management LLC lifted its holdings in shares of Bank of America Corp (NYSE:BAC) by 11.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,549 shares of the financial services provider’s stock after purchasing an additional 4,592 shares during the period. IHT Wealth Management LLC’s holdings in Bank of America were worth $1,122,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Northern Trust Corp raised its stake in shares of Bank of America by 1.7% in the 4th quarter. Northern Trust Corp now owns 101,947,104 shares of the financial services provider’s stock valued at $2,511,976,000 after acquiring an additional 1,696,074 shares during the period. Harris Associates L P raised its stake in shares of Bank of America by 0.8% in the 4th quarter. Harris Associates L P now owns 81,107,007 shares of the financial services provider’s stock valued at $1,998,477,000 after acquiring an additional 669,104 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of Bank of America by 2,345.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 57,933,075 shares of the financial services provider’s stock valued at $2,351,000 after acquiring an additional 55,563,977 shares during the period. Standard Life Aberdeen plc raised its stake in shares of Bank of America by 2.3% in the 3rd quarter. Standard Life Aberdeen plc now owns 20,334,753 shares of the financial services provider’s stock valued at $599,163,000 after acquiring an additional 455,380 shares during the period. Finally, Sanders Capital LLC raised its stake in shares of Bank of America by 3.2% in the 4th quarter. Sanders Capital LLC now owns 18,621,007 shares of the financial services provider’s stock valued at $506,236,000 after acquiring an additional 584,443 shares during the period. 65.25% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently commented on the stock. Macquarie downgraded shares of Bank of America from an “outperform” rating to a “neutral” rating in a research note on Monday, January 7th. They noted that the move was a valuation call. Jefferies Financial Group reissued a “buy” rating on shares of Bank of America in a research note on Tuesday, January 8th. Oppenheimer raised their target price on shares of Bank of America from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Zacks Investment Research downgraded shares of Bank of America from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Tuesday, January 8th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $33.25.

In related news, insider Dean C. Athanasia sold 129,615 shares of Bank of America stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $29.78, for a total transaction of $3,859,934.70. Following the sale, the insider now owns 243,617 shares of the company’s stock, valued at approximately $7,254,914.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.17% of the company’s stock.

Bank of America stock opened at $30.03 on Monday. Bank of America Corp has a 12-month low of $22.66 and a 12-month high of $31.91. The firm has a market cap of $307.62 billion, a P/E ratio of 11.51, a PEG ratio of 1.31 and a beta of 1.47. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.05. Bank of America had a net margin of 25.42% and a return on equity of 11.79%. The firm had revenue of $23 billion for the quarter, compared to the consensus estimate of $23.24 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. On average, equities analysts expect that Bank of America Corp will post 2.86 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Thursday, February 28th. Bank of America’s dividend payout ratio (DPR) is 22.99%.

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About Bank of America

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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

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

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