Livforsakringsbolaget Skandia Omsesidigt Has $11.64 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

Livforsakringsbolaget Skandia Omsesidigt increased its position in Bank of America Co. (NYSE:BAC) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 345,917 shares of the financial services provider’s stock after purchasing an additional 5,965 shares during the quarter. Bank of America accounts for 1.1% of Livforsakringsbolaget Skandia Omsesidigt’s portfolio, making the stock its 14th biggest holding. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Bank of America were worth $11,644,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Fort Sheridan Advisors LLC grew its stake in shares of Bank of America by 0.8% in the 4th quarter. Fort Sheridan Advisors LLC now owns 39,526 shares of the financial services provider’s stock valued at $1,309,000 after buying an additional 303 shares during the period. Regent Peak Wealth Advisors LLC boosted its stake in Bank of America by 3.2% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 9,976 shares of the financial services provider’s stock valued at $336,000 after purchasing an additional 314 shares during the last quarter. Kennedy Investment Group boosted its stake in Bank of America by 0.6% during the 4th quarter. Kennedy Investment Group now owns 58,007 shares of the financial services provider’s stock valued at $1,953,000 after purchasing an additional 321 shares during the last quarter. Private Ocean LLC boosted its stake in Bank of America by 34.0% during the 4th quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 325 shares during the last quarter. Finally, Selective Wealth Management Inc. boosted its stake in Bank of America by 2.0% during the 4th quarter. Selective Wealth Management Inc. now owns 17,351 shares of the financial services provider’s stock valued at $586,000 after purchasing an additional 334 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Stock Performance

Shares of NYSE:BAC traded up $0.54 during mid-day trading on Wednesday, reaching $35.22. The company had a trading volume of 65,935,560 shares, compared to its average volume of 41,550,309. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.15. The firm has a market cap of $277.87 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 1.64 and a beta of 1.39. The company’s 50-day moving average price is $35.51 and its 200-day moving average price is $32.19. Bank of America Co. has a one year low of $24.96 and a one year high of $38.35.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. The company had revenue of $25.82 billion for the quarter, compared to analysts’ expectations of $25.49 billion. Bank of America had a net margin of 15.42% and a return on equity of 11.38%. Bank of America’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 EPS. As a group, equities research analysts anticipate that Bank of America Co. will post 3.13 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were issued a dividend of $0.24 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.73%. Bank of America’s payout ratio is 31.27%.

Wall Street Analyst Weigh In

BAC has been the subject of a number of analyst reports. Evercore ISI lifted their price target on Bank of America from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Wells Fargo & Company lifted their price target on Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Jefferies Financial Group lifted their price target on Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a research note on Monday, April 8th. Barclays lifted their price target on Bank of America from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, January 2nd. Finally, UBS Group restated a “neutral” rating and issued a $40.00 target price (up previously from $39.00) on shares of Bank of America in a research note on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $38.23.

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.