Capital International Ltd. CA Buys 4,695 Shares of Bank of America Co. (NYSE:BAC)

Capital International Ltd. CA grew its position in Bank of America Co. (NYSE:BAC) by 1.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 380,322 shares of the financial services provider’s stock after buying an additional 4,695 shares during the quarter. Capital International Ltd. CA’s holdings in Bank of America were worth $16,715,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its stake in shares of Bank of America by 3.8% in the 3rd quarter. Principal Financial Group Inc. now owns 15,415,630 shares of the financial services provider’s stock valued at $611,692,000 after acquiring an additional 569,385 shares during the last quarter. Morse Asset Management Inc purchased a new position in shares of Bank of America in the 3rd quarter worth approximately $306,000. SkyView Investment Advisors LLC lifted its holdings in Bank of America by 4.3% during the third quarter. SkyView Investment Advisors LLC now owns 15,602 shares of the financial services provider’s stock worth $619,000 after acquiring an additional 645 shares during the period. Tudor Financial Inc. bought a new stake in shares of Bank of America during the 3rd quarter worth $645,000. Finally, Eaton Financial Holdings Company LLC bought a new position in shares of Bank of America during the 3rd quarter valued at approximately $488,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America Trading Up 0.3 %

Shares of BAC opened at $37.44 on Friday. The company has a 50-day moving average of $41.46 and a 200 day moving average of $43.60. The firm has a market capitalization of $284.65 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 1.21 and a beta of 1.24. Bank of America Co. has a 1-year low of $33.07 and a 1-year high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.10. The firm had revenue of $27.37 billion during the quarter, compared to analysts’ expectations of $26.83 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. On average, research analysts expect that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BAC shares. Truist Financial cut their price target on Bank of America from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday. Robert W. Baird raised shares of Bank of America from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $45.00 to $50.00 in a research note on Friday, March 7th. Oppenheimer upped their target price on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Barclays decreased their price objective on shares of Bank of America from $58.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Bank of America from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.20.

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.