Bank of America (BAC) Holdings Boosted by EFG Asset Management Americas Corp.

EFG Asset Management Americas Corp. raised its position in Bank of America (NYSE:BAC) by 111.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,109 shares of the financial services provider’s stock after buying an additional 50,076 shares during the period. Bank of America accounts for about 1.2% of EFG Asset Management Americas Corp.’s investment portfolio, making the stock its 26th biggest position. EFG Asset Management Americas Corp.’s holdings in Bank of America were worth $2,852,000 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 BAC. Burt Wealth Advisors boosted its position in Bank of America by 4,013.1% in the third quarter. Burt Wealth Advisors now owns 4,401 shares of the financial services provider’s stock valued at $112,000 after buying an additional 4,294 shares in the last quarter. HWG Holdings LP acquired a new position in Bank of America in the third quarter valued at about $116,000. Avestar Capital LLC acquired a new position in Bank of America in the fourth quarter valued at about $135,000. Gradient Investments LLC acquired a new position in Bank of America in the fourth quarter valued at about $150,000. Finally, Taylor Hoffman Wealth Management acquired a new position in Bank of America in the fourth quarter valued at about $151,000. Hedge funds and other institutional investors own 67.22% of the company’s stock.

A number of brokerages have recently issued reports on BAC. Credit Suisse Group upped their target price on shares of Bank of America from $35.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, March 16th. Citigroup upped their target price on shares of Bank of America from $32.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 24th. Vetr upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $34.16 target price on the stock in a research report on Thursday, March 1st. ValuEngine upgraded shares of Bank of America from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Jefferies Group reiterated a “buy” rating and set a $34.00 target price on shares of Bank of America in a research report on Tuesday, April 17th. Nine research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $32.13.



Shares of NYSE BAC opened at $30.55 on Tuesday. Bank of America has a fifty-two week low of $22.07 and a fifty-two week high of $33.05. The company has a market capitalization of $309.97 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 1.48 and a beta of 1.37. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Monday, April 16th. The financial services provider reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.03. Bank of America had a net margin of 19.65% and a return on equity of 9.40%. The business had revenue of $23.10 billion for the quarter, compared to analyst estimates of $23.04 billion. During the same period in the prior year, the business posted $0.41 earnings per share. Bank of America’s revenue was up 4.1% compared to the same quarter last year. research analysts predict that Bank of America will post 2.55 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 1st will be issued a $0.12 dividend. The ex-dividend date is Thursday, May 31st. This represents a $0.48 annualized dividend and a yield of 1.57%. Bank of America’s dividend payout ratio is currently 26.23%.

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

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

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