River Global Investors LLP Has $3.64 Million Holdings in Bank of America Co. (NYSE:BAC)

River Global Investors LLP decreased its position in shares of Bank of America Co. (NYSE:BAC) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 108,054 shares of the financial services provider’s stock after selling 983 shares during the period. River Global Investors LLP’s holdings in Bank of America were worth $3,638,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. TCG Advisory Services LLC lifted its position in shares of Bank of America by 733.2% during the fourth quarter. TCG Advisory Services LLC now owns 133,095 shares of the financial services provider’s stock worth $4,481,000 after purchasing an additional 117,121 shares in the last quarter. Royal Fund Management LLC boosted its stake in Bank of America by 7.7% during the 4th quarter. Royal Fund Management LLC now owns 9,118 shares of the financial services provider’s stock worth $307,000 after acquiring an additional 655 shares during the last quarter. AJOVista LLC acquired a new position in shares of Bank of America in the 4th quarter valued at $253,000. Baxter Bros Inc. increased its holdings in shares of Bank of America by 0.5% in the fourth quarter. Baxter Bros Inc. now owns 110,994 shares of the financial services provider’s stock worth $3,737,000 after acquiring an additional 557 shares in the last quarter. Finally, Provence Wealth Management Group increased its stake in Bank of America by 14.9% during the 4th quarter. Provence Wealth Management Group now owns 23,099 shares of the financial services provider’s stock worth $778,000 after purchasing an additional 2,997 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BAC shares. BMO Capital Markets boosted their target price on Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Jefferies Financial Group raised their target price on shares of Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a research report on Monday, April 8th. Oppenheimer boosted their price target on shares of Bank of America from $45.00 to $46.00 and gave the stock an “outperform” rating in a research report on Tuesday. Evercore ISI increased their price objective on shares of Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, Erste Group Bank raised Bank of America from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of America presently has a consensus rating of “Hold” and an average price target of $38.70.

Bank of America Stock Performance

Shares of BAC stock traded up $0.37 during trading on Friday, reaching $37.25. 34,082,662 shares of the company’s stock were exchanged, compared to its average volume of 41,339,492. The firm’s fifty day moving average price is $36.46 and its 200-day moving average price is $33.08. Bank of America Co. has a twelve month low of $24.96 and a twelve month high of $38.49. The stock has a market capitalization of $291.31 billion, a PE ratio of 12.89, a PEG ratio of 1.65 and a beta of 1.37. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.77 by $0.06. The firm had revenue of $25.82 billion for the quarter, compared to the consensus estimate of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.94 earnings per share. As a group, sell-side analysts anticipate that Bank of America Co. will post 3.2 EPS for the current year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.96 annualized dividend and a yield of 2.58%. Bank of America’s dividend payout ratio is currently 33.22%.

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.