Bank of America Co. (NYSE:BAC) Shares Acquired by Addison Advisors LLC

Addison Advisors LLC increased its holdings in shares of Bank of America Co. (NYSE:BAC) by 6.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,344 shares of the financial services provider’s stock after acquiring an additional 843 shares during the period. Addison Advisors LLC’s holdings in Bank of America were worth $483,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Northern Trust Corp increased its position in shares of Bank of America by 2.1% in the third quarter. Northern Trust Corp now owns 67,648,727 shares of the financial services provider’s stock valued at $1,852,222,000 after buying an additional 1,397,469 shares in the last quarter. Barclays PLC grew its stake in Bank of America by 97.3% in the 3rd quarter. Barclays PLC now owns 41,290,694 shares of the financial services provider’s stock valued at $1,130,538,000 after acquiring an additional 20,362,295 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Bank of America by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 40,518,019 shares of the financial services provider’s stock worth $1,109,383,000 after acquiring an additional 746,756 shares in the last quarter. California Public Employees Retirement System raised its position in Bank of America by 5.9% during the fourth quarter. California Public Employees Retirement System now owns 22,538,500 shares of the financial services provider’s stock worth $758,871,000 after acquiring an additional 1,250,096 shares during the period. Finally, Pzena Investment Management LLC lifted its holdings in Bank of America by 28.7% during the third quarter. Pzena Investment Management LLC now owns 19,430,142 shares of the financial services provider’s stock valued at $531,997,000 after purchasing an additional 4,335,882 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Trading Down 0.2 %

Bank of America stock traded down $0.08 during midday trading on Friday, hitting $37.83. 28,668,680 shares of the stock were exchanged, compared to its average volume of 40,953,860. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $298.50 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 1.69 and a beta of 1.39. The stock’s 50-day simple moving average is $36.13 and its 200 day simple moving average is $32.76. Bank of America Co. has a fifty-two week low of $24.96 and a fifty-two week high of $38.49.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The business had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $25.49 billion. During the same quarter last year, the firm earned $0.94 EPS. The business’s revenue was down 1.7% compared to the same quarter last year. On average, equities analysts anticipate that Bank of America Co. will post 3.19 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Friday, June 7th. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.

Analysts Set New Price Targets

A number of analysts have recently commented on BAC shares. Evercore ISI boosted their target price on shares of Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. HSBC reiterated a “hold” rating and set a $39.00 price objective (up from $38.00) on shares of Bank of America in a research note on Thursday, March 28th. Wells Fargo & Company raised their target price on Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, March 28th. Barclays boosted their price target on Bank of America from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Finally, BMO Capital Markets raised their price objective on Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $38.53.

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.