Bank of America Corp (BAC) Shares Bought by HWG Holdings LP

HWG Holdings LP boosted its position in Bank of America Corp (NYSE:BAC) by 37.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,281 shares of the financial services provider’s stock after acquiring an additional 1,713 shares during the quarter. HWG Holdings LP’s holdings in Bank of America were worth $185,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Janus Henderson Group PLC lifted its stake in shares of Bank of America by 587.0% during the second quarter. Janus Henderson Group PLC now owns 13,598,678 shares of the financial services provider’s stock worth $329,911,000 after purchasing an additional 11,619,173 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Bank of America by 27.8% during the second quarter. The Manufacturers Life Insurance Company now owns 44,136,977 shares of the financial services provider’s stock worth $1,070,762,000 after purchasing an additional 9,612,342 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Bank of America by 1.4% during the second quarter. Vanguard Group Inc. now owns 661,494,339 shares of the financial services provider’s stock worth $16,047,853,000 after purchasing an additional 9,117,007 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Bank of America by 52.4% during the second quarter. Parametric Portfolio Associates LLC now owns 24,012,218 shares of the financial services provider’s stock worth $582,536,000 after purchasing an additional 8,261,288 shares in the last quarter. Finally, Investec Asset Management LTD lifted its stake in shares of Bank of America by 68.6% during the second quarter. Investec Asset Management LTD now owns 17,772,325 shares of the financial services provider’s stock worth $431,157,000 after purchasing an additional 7,231,615 shares in the last quarter. Hedge funds and other institutional investors own 68.67% of the company’s stock.

A number of analysts have recently issued reports on BAC shares. ValuEngine lowered Bank of America from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Royal Bank of Canada lifted their target price on Bank of America to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. Barclays lifted their target price on Bank of America from $28.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. Morgan Stanley lifted their target price on Bank of America from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Finally, Societe Generale lowered Bank of America from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $30.21.

Shares of Bank of America Corp (NYSE:BAC) opened at $31.69 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $327,856.25, a PE ratio of 20.45, a P/E/G ratio of 1.62 and a beta of 1.41. Bank of America Corp has a fifty-two week low of $22.07 and a fifty-two week high of $32.67.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.03. The firm had revenue of $20.69 billion during the quarter, compared to analyst estimates of $21.61 billion. Bank of America had a return on equity of 8.54% and a net margin of 18.03%. Bank of America’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 earnings per share. equities analysts anticipate that Bank of America Corp will post 2.46 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 2nd will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Thursday, March 1st. Bank of America’s dividend payout ratio (DPR) is presently 30.97%.

Bank of America declared that its board has approved a stock buyback plan on Tuesday, December 5th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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Bank of America Company Profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.

Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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