Natixis Advisors LLC Raises Position in Bank of America Co. (NYSE:BAC)

Natixis Advisors LLC raised its holdings in Bank of America Co. (NYSE:BAC) by 20.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,473,665 shares of the financial services provider’s stock after buying an additional 1,080,122 shares during the period. Bank of America makes up approximately 0.5% of Natixis Advisors LLC’s portfolio, making the stock its 28th largest position. Natixis Advisors LLC owned 0.08% of Bank of America worth $284,518,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Swedbank AB boosted its stake in Bank of America by 0.7% in the third quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider’s stock valued at $279,441,000 after acquiring an additional 50,849 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Bank of America by 3.8% in the third quarter. Principal Financial Group Inc. now owns 15,415,630 shares of the financial services provider’s stock valued at $611,692,000 after buying an additional 569,385 shares during the last quarter. Harbour Investments Inc. raised its holdings in shares of Bank of America by 3.5% in the third quarter. Harbour Investments Inc. now owns 27,487 shares of the financial services provider’s stock valued at $1,091,000 after buying an additional 923 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of Bank of America by 63.7% in the third quarter. GSA Capital Partners LLP now owns 31,875 shares of the financial services provider’s stock valued at $1,265,000 after buying an additional 12,402 shares during the last quarter. Finally, MQS Management LLC purchased a new stake in shares of Bank of America in the third quarter valued at about $322,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Trading Up 3.3 %

Bank of America stock opened at $40.97 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm has a 50-day moving average price of $45.19 and a two-hundred day moving average price of $43.71. The firm has a market capitalization of $311.45 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.21 and a beta of 1.32. Bank of America Co. has a 52-week low of $34.15 and a 52-week high of $48.08.

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

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.26 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.54%. Bank of America’s payout ratio is currently 32.30%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BAC shares. Truist Financial increased their price target on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Wells Fargo & Company increased their target price on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 15th. HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, January 7th. Baird R W raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Finally, Robert W. Baird raised shares of Bank of America from a “neutral” rating to an “outperform” rating and increased their target price for the company from $45.00 to $50.00 in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.64.

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.