Bank of America Co. (NYSE:BAC) Shares Purchased by Transatlantique Private Wealth LLC

Transatlantique Private Wealth LLC boosted its stake in shares of Bank of America Co. (NYSE:BAC) by 87.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 27,845 shares of the financial services provider’s stock after purchasing an additional 12,982 shares during the quarter. Transatlantique Private Wealth LLC’s holdings in Bank of America were worth $1,224,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of BAC. Geode Capital Management LLC grew its stake in shares of Bank of America by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 142,289,199 shares of the financial services provider’s stock worth $6,243,000,000 after purchasing an additional 2,033,229 shares during the period. Norges Bank acquired a new position in shares of Bank of America during the 4th quarter worth approximately $5,226,989,000. Capital World Investors grew its stake in Bank of America by 23.9% in the 4th quarter. Capital World Investors now owns 88,210,527 shares of the financial services provider’s stock valued at $3,876,853,000 after acquiring an additional 17,031,143 shares during the period. Bank of New York Mellon Corp increased its holdings in Bank of America by 4.9% in the 4th quarter. Bank of New York Mellon Corp now owns 59,613,837 shares of the financial services provider’s stock worth $2,620,028,000 after acquiring an additional 2,806,927 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in Bank of America by 3.7% during the fourth quarter. Fisher Asset Management LLC now owns 46,887,442 shares of the financial services provider’s stock worth $2,060,703,000 after acquiring an additional 1,671,610 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BAC. Morgan Stanley boosted their target price on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Baird R W raised Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Piper Sandler reduced their target price on shares of Bank of America from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Robert W. Baird upgraded Bank of America from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $45.00 to $50.00 in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.43.

Bank of America Stock Up 0.3 %

Shares of NYSE:BAC opened at $37.44 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a fifty-two week low of $33.07 and a fifty-two week high of $48.08. The stock has a market cap of $284.65 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 1.21 and a beta of 1.24. The firm’s 50 day moving average price is $41.27 and its 200 day moving average price is $43.62.

Bank of America (NYSE:BAC) last posted its 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. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm had revenue of $27.37 billion for the quarter, compared to the consensus estimate of $26.83 billion. As a group, equities research analysts predict that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Friday, March 7th. Bank of America’s dividend payout ratio is currently 30.95%.

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.