TD Waterhouse Canada Inc. Grows Holdings in Bank of America Co. (NYSE:BAC)

TD Waterhouse Canada Inc. boosted its stake in Bank of America Co. (NYSE:BAC) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 907,697 shares of the financial services provider’s stock after acquiring an additional 5,155 shares during the period. TD Waterhouse Canada Inc.’s holdings in Bank of America were worth $39,911,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Graney & King LLC acquired a new stake in shares of Bank of America in the 4th quarter valued at about $25,000. Collier Financial bought a new position in Bank of America during the 4th quarter worth approximately $25,000. Fairway Wealth LLC acquired a new position in shares of Bank of America in the 4th quarter worth approximately $29,000. Glass Jacobson Investment Advisors llc increased its holdings in shares of Bank of America by 53.0% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 276 shares during the last quarter. Finally, Highline Wealth Partners LLC raised its position in shares of Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 510 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Bank of America Price Performance

BAC stock opened at $37.44 on Monday. Bank of America Co. has a one year low of $33.07 and a one year high of $48.08. The firm has a 50-day moving average of $41.27 and a two-hundred day moving average of $43.65. The firm has a market capitalization of $284.65 billion, a PE ratio of 11.63, a P/E/G ratio of 1.21 and a beta of 1.24. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

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

Bank of America Announces Dividend

The business also recently declared 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 dividend payout ratio (DPR) is 30.95%.

Analyst Upgrades and Downgrades

BAC has been the subject of several recent research reports. Argus lowered their target price on shares of Bank of America from $53.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Royal Bank of Canada decreased their target price on Bank of America from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, April 16th. Oppenheimer increased their price target on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. Robert W. Baird upgraded Bank of America from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $45.00 to $50.00 in a research note on Friday, March 7th. Finally, Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.43.

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.