Lincluden Management Ltd. Has $6.75 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

Lincluden Management Ltd. lowered its holdings in shares of Bank of America Co. (NYSE:BAC) by 0.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 153,633 shares of the financial services provider’s stock after selling 1,074 shares during the period. Bank of America comprises about 0.8% of Lincluden Management Ltd.’s portfolio, making the stock its 27th biggest holding. Lincluden Management Ltd.’s holdings in Bank of America were worth $6,752,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. BHK Investment Advisors LLC lifted its holdings in shares of Bank of America by 34.1% in the fourth quarter. BHK Investment Advisors LLC now owns 10,180 shares of the financial services provider’s stock worth $447,000 after acquiring an additional 2,590 shares during the last quarter. Brown Financial Advisors grew its holdings in shares of Bank of America by 3.7% during the 4th quarter. Brown Financial Advisors now owns 31,591 shares of the financial services provider’s stock valued at $1,388,000 after purchasing an additional 1,124 shares during the last quarter. CWS Financial Advisors LLC acquired a new position in Bank of America during the 4th quarter worth approximately $204,000. Coyle Financial Counsel LLC lifted its stake in Bank of America by 11.2% in the 4th quarter. Coyle Financial Counsel LLC now owns 8,531 shares of the financial services provider’s stock valued at $375,000 after purchasing an additional 858 shares during the last quarter. Finally, Addison Advisors LLC boosted its position in Bank of America by 21.8% in the fourth quarter. Addison Advisors LLC now owns 18,816 shares of the financial services provider’s stock valued at $827,000 after buying an additional 3,364 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Barclays increased their price target on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Morgan Stanley boosted their price target on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the company from $46.00 to $54.00 in a research note on Friday, November 8th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Stock Performance

Shares of Bank of America stock opened at $44.48 on Tuesday. The business has a 50-day moving average price of $45.73 and a two-hundred day moving average price of $43.46. Bank of America Co. has a 1-year low of $33.53 and a 1-year high of $48.08. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The company has a market cap of $341.25 billion, a P/E ratio of 13.81, a PEG ratio of 1.21 and a beta of 1.33.

Bank of America (NYSE:BAC) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. The business had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 earnings per share. As a group, analysts anticipate that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.34%. Bank of America’s dividend payout ratio is currently 32.30%.

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