Bank of America Co. (NYSE:BAC) Shares Acquired by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in Bank of America Co. (NYSE:BAC) by 31.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,051,595 shares of the financial services provider’s stock after buying an additional 9,258,040 shares during the quarter. Bank of America accounts for approximately 1.7% of DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings, making the stock its 13th biggest holding. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned about 0.51% of Bank of America worth $1,716,318,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BAC. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Bank of America by 4.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,940,121 shares of the financial services provider’s stock worth $173,168,000 after purchasing an additional 173,021 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Bank of America during the fourth quarter worth $60,679,000. Arizona State Retirement System lifted its position in shares of Bank of America by 0.5% in the 4th quarter. Arizona State Retirement System now owns 2,028,439 shares of the financial services provider’s stock worth $89,150,000 after buying an additional 10,377 shares during the last quarter. Keybank National Association OH grew its position in shares of Bank of America by 1.1% during the 4th quarter. Keybank National Association OH now owns 3,458,616 shares of the financial services provider’s stock valued at $152,006,000 after buying an additional 38,258 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Bank of America by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 42,929,896 shares of the financial services provider’s stock worth $1,886,769,000 after acquiring an additional 297,858 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

BAC has been the subject of a number of recent research reports. Oppenheimer upped their price objective on Bank of America from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Monday, April 28th. Evercore ISI decreased their target price on Bank of America from $51.00 to $48.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. Citigroup cut their price target on shares of Bank of America from $54.00 to $50.00 and set a “buy” rating for the company in a report on Monday, March 24th. Phillip Securities raised shares of Bank of America from a “moderate buy” rating to a “strong-buy” rating in a research note on Thursday, April 17th. Finally, Cfra Research increased their target price on shares of Bank of America to $47.00 and gave the company a “buy” rating in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.25.

Bank of America Stock Down 0.6 %

Shares of BAC opened at $40.86 on Wednesday. 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 company has a 50-day moving average price of $39.89 and a two-hundred day moving average price of $43.50. Bank of America Co. has a 12 month low of $33.07 and a 12 month high of $48.08. The stock has a market cap of $310.62 billion, a price-to-earnings ratio of 12.69, a P/E/G ratio of 1.21 and a beta of 1.27.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm had revenue of $27.37 billion for the quarter, compared to the consensus estimate of $26.83 billion. Equities analysts predict that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 6th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.55%. Bank of America’s dividend payout ratio (DPR) is presently 30.95%.

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.