MUFG Securities EMEA plc Lowers Holdings in Bank of America Co. (NYSE:BAC)

MUFG Securities EMEA plc decreased its holdings in Bank of America Co. (NYSE:BAC) by 37.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,815 shares of the financial services provider’s stock after selling 3,422 shares during the quarter. MUFG Securities EMEA plc’s holdings in Bank of America were worth $196,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BAC. Fortis Group Advisors LLC purchased a new position in Bank of America in the third quarter worth approximately $25,000. Glass Jacobson Investment Advisors llc lifted its stake in Bank of America by 98.1% in the third quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 504 shares during the last quarter. Criterion Capital Advisors LLC purchased a new position in Bank of America in the fourth quarter worth approximately $32,000. Mark Sheptoff Financial Planning LLC lifted its stake in Bank of America by 431.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 1,062 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 862 shares during the last quarter. Finally, ZRC Wealth Management LLC lifted its stake in Bank of America by 192.3% in the fourth quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

BAC has been the subject of a number of recent research reports. BMO Capital Markets lifted their price target on shares of Bank of America from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th. Wells Fargo & Company boosted their price objective on shares of Bank of America from $40.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. boosted their price objective on shares of Bank of America from $39.50 to $40.50 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Jefferies Financial Group boosted their price objective on shares of Bank of America from $36.00 to $39.00 and gave the stock a “hold” rating in a research report on Monday, April 8th. Finally, Erste Group Bank upgraded shares of Bank of America from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $38.70.

View Our Latest Report on BAC

Bank of America Price Performance

Shares of Bank of America stock traded up $0.53 on Friday, hitting $39.70. The company’s stock had a trading volume of 22,166,306 shares, compared to its average volume of 30,858,416. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $39.84. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The firm has a fifty day moving average price of $37.54 and a 200-day moving average price of $34.39. The company has a market capitalization of $310.47 billion, a P/E ratio of 13.74, a price-to-earnings-growth ratio of 1.76 and a beta of 1.37.

Bank of America (NYSE:BACGet Free Report) last released its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. The company had revenue of $25.82 billion for the quarter, compared to analyst estimates of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 EPS. On average, equities research analysts expect that Bank of America Co. will post 3.23 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.24 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.96 dividend on an annualized basis and a yield of 2.42%. Bank of America’s dividend payout ratio (DPR) is 33.22%.

Bank of America Company Profile

(Free Report)

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.

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

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