Bank of America Co. (NYSE:BAC) Shares Purchased by Natixis Advisors L.P.

Natixis Advisors L.P. lifted its stake in shares of Bank of America Co. (NYSE:BAC) by 8.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,986,134 shares of the financial services provider’s stock after purchasing an additional 314,634 shares during the period. Natixis Advisors L.P. owned 0.05% of Bank of America worth $134,212,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Fortis Group Advisors LLC purchased a new stake in Bank of America during the 3rd quarter worth about $25,000. Glass Jacobson Investment Advisors llc grew its position in shares of Bank of America by 98.1% during 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 bought a new stake in shares of Bank of America during the fourth quarter valued at approximately $32,000. ZRC Wealth Management LLC boosted its stake in Bank of America by 192.3% during the 4th quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 750 shares in the last quarter. Finally, Private Ocean LLC increased its position in shares of 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 period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Down 0.2 %

BAC stock traded down $0.07 during trading hours on Thursday, reaching $36.88. 16,129,111 shares of the stock were exchanged, compared to its average volume of 40,725,461. The company has a market cap of $291.01 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.66 and a beta of 1.37. The firm’s 50-day moving average is $36.33 and its 200-day moving average is $32.98. Bank of America Co. has a 12 month low of $24.96 and a 12 month high of $38.49. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79.

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

Bank of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $0.24 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.96 annualized dividend and a dividend yield of 2.60%. Bank of America’s dividend payout ratio is presently 33.22%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BAC shares. Jefferies Financial Group boosted their price target 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. Evercore ISI lifted 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 report on Thursday, April 4th. HSBC reaffirmed a “hold” rating and issued a $39.00 price target (up from $38.00) on shares of Bank of America in a research note on Thursday, March 28th. JPMorgan Chase & Co. boosted their target price on Bank of America from $39.50 to $40.50 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Citigroup raised their price target on Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $38.70.

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.