Earnest Partners LLC Has $7.05 Million Holdings in Bank of America (BAC)

Earnest Partners LLC lessened its stake in Bank of America (NYSE:BAC) by 7.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 238,673 shares of the financial services provider’s stock after selling 19,144 shares during the period. Earnest Partners LLC’s holdings in Bank of America were worth $7,046,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. 1ST Source Bank boosted its holdings in Bank of America by 4.8% in the third quarter. 1ST Source Bank now owns 81,124 shares of the financial services provider’s stock worth $2,056,000 after acquiring an additional 3,690 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in Bank of America by 1.9% in the third quarter. Teacher Retirement System of Texas now owns 6,806,200 shares of the financial services provider’s stock worth $172,469,000 after acquiring an additional 128,510 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in Bank of America by 7.5% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 64,694 shares of the financial services provider’s stock worth $1,639,000 after acquiring an additional 4,537 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Bank of America by 75.3% in the third quarter. Victory Capital Management Inc. now owns 1,401,094 shares of the financial services provider’s stock worth $35,504,000 after acquiring an additional 601,675 shares in the last quarter. Finally, Bradley Foster & Sargent Inc. CT boosted its holdings in Bank of America by 9.3% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 187,082 shares of the financial services provider’s stock worth $4,741,000 after acquiring an additional 15,983 shares in the last quarter. Institutional investors own 69.93% of the company’s stock.

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Bank of America stock opened at $30.14 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.92 and a quick ratio of 0.91. Bank of America has a 52 week low of $22.07 and a 52 week high of $33.05. The stock has a market cap of $310,588.69, a P/E ratio of 16.47, a PEG ratio of 1.49 and a beta of 1.37.



Bank of America (NYSE:BAC) last announced its quarterly earnings results on Monday, April 16th. The financial services provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.03. The company had revenue of $23.10 billion during the quarter, compared to analysts’ expectations of $23.04 billion. Bank of America had a return on equity of 9.40% and a net margin of 19.65%. Bank of America’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the business earned $0.41 earnings per share. equities analysts anticipate that Bank of America will post 2.54 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 2nd were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.59%. The ex-dividend date was Thursday, March 1st. Bank of America’s dividend payout ratio is currently 26.23%.

Several equities research analysts have weighed in on the company. BMO Capital Markets raised their price target on Bank of America to $34.00 and gave the stock an “average” rating in a report on Thursday, January 18th. They noted that the move was a valuation call. ValuEngine downgraded Bank of America from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Vetr downgraded Bank of America from a “strong-buy” rating to a “buy” rating and set a $33.89 price target for the company. in a report on Wednesday, January 10th. Citigroup raised their price target on Bank of America from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Vining Sparks reissued a “buy” rating and issued a $34.00 price target on shares of Bank of America in a report on Wednesday, January 17th. Nine analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Bank of America presently has an average rating of “Buy” and an average price target of $32.13.

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About Bank of America

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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

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

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