Oddo BHF Asset Management Sas Buys 150,246 Shares of Bank of America Corporation $BAC

Oddo BHF Asset Management Sas boosted its stake in Bank of America Corporation (NYSE:BAC) by 2,008.4% in the 4th quarter, Holdings Channel reports. The firm owned 157,727 shares of the financial services provider’s stock after acquiring an additional 150,246 shares during the quarter. Oddo BHF Asset Management Sas’ holdings in Bank of America were worth $8,675,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of BAC. Norges Bank bought a new stake in shares of Bank of America during the 4th quarter valued at about $4,774,210,000. Capital International Investors bought a new stake in shares of Bank of America during the 4th quarter valued at about $2,357,461,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Bank of America by 640.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 46,516,728 shares of the financial services provider’s stock valued at $2,399,798,000 after acquiring an additional 40,235,201 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Bank of America by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 651,076,825 shares of the financial services provider’s stock valued at $35,809,225,000 after acquiring an additional 23,351,183 shares during the last quarter. Finally, Cardano Risk Management B.V. boosted its position in shares of Bank of America by 914.5% during the 4th quarter. Cardano Risk Management B.V. now owns 25,095,260 shares of the financial services provider’s stock valued at $1,380,239,000 after acquiring an additional 22,621,546 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of NYSE BAC opened at $55.89 on Tuesday. The stock has a market cap of $396.62 billion, a price-to-earnings ratio of 13.83, a P/E/G ratio of 0.95 and a beta of 1.19. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.18. Bank of America Corporation has a 1-year low of $44.06 and a 1-year high of $57.55. The stock’s 50-day moving average is $52.42 and its 200 day moving average is $52.44.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Wednesday, April 15th. The financial services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.11. The business had revenue of $30.27 billion for the quarter, compared to analysts’ expectations of $29.72 billion. Bank of America had a return on equity of 11.49% and a net margin of 16.78%.The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 EPS. On average, sell-side analysts anticipate that Bank of America Corporation will post 4.45 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, June 5th. Bank of America’s payout ratio is 27.72%.

Wall Street Analyst Weigh In

BAC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price target on Bank of America from $63.00 to $64.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. HSBC lifted their price target on Bank of America from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Robert W. Baird lifted their price target on Bank of America from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, April 16th. Truist Financial lifted their price target on Bank of America from $57.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Daiwa Securities Group raised their price objective on Bank of America from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Twenty-two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.06.

Insider Buying and Selling

In other Bank of America news, insider Geoffrey S. Greener sold 126,756 shares of Bank of America stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $53.01, for a total value of $6,719,335.56. Following the transaction, the insider directly owned 1,373,397 shares of the company’s stock, valued at $72,803,774.97. The trade was a 8.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by company insiders.

About Bank of America

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.