Two Sigma Investments LP Has $236.55 Million Stake in Bank of America Co. (NYSE:BAC)

Two Sigma Investments LP reduced its position in Bank of America Co. (NYSE:BAC) by 5.3% in the 4th quarter, Holdings Channel reports. The firm owned 5,382,353 shares of the financial services provider’s stock after selling 301,638 shares during the quarter. Bank of America comprises approximately 0.5% of Two Sigma Investments LP’s investment portfolio, making the stock its 24th biggest position. Two Sigma Investments LP’s holdings in Bank of America were worth $236,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Bank of America during the 4th quarter worth approximately $5,226,989,000. Capital World Investors grew its position in Bank of America by 23.9% in the fourth quarter. Capital World Investors now owns 88,210,527 shares of the financial services provider’s stock valued at $3,876,853,000 after acquiring an additional 17,031,143 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Bank of America by 10.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 122,437,422 shares of the financial services provider’s stock worth $5,381,126,000 after acquiring an additional 11,691,451 shares in the last quarter. Amundi raised its stake in Bank of America by 37.1% during the fourth quarter. Amundi now owns 37,819,980 shares of the financial services provider’s stock worth $1,747,658,000 after acquiring an additional 10,231,001 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Bank of America by 17.2% during the fourth quarter. Northern Trust Corp now owns 67,935,940 shares of the financial services provider’s stock valued at $2,985,785,000 after acquiring an additional 9,980,859 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Trading Up 0.6%

Shares of NYSE BAC opened at $44.66 on Monday. Bank of America Co. has a fifty-two week low of $33.07 and a fifty-two week high of $48.08. The firm has a market capitalization of $336.38 billion, a P/E ratio of 13.87, a P/E/G ratio of 1.21 and a beta of 1.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The company’s 50 day simple moving average is $40.03 and its 200 day simple moving average is $43.56.

Bank of America (NYSE:BAC) last posted its quarterly earnings results 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. The business had revenue of $27.37 billion for the quarter, compared to analyst estimates of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. On average, analysts predict that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.33%. The ex-dividend date is Friday, June 6th. Bank of America’s payout ratio is 30.95%.

Analyst Ratings Changes

A number of brokerages recently issued reports on BAC. Cfra Research increased their target price on shares of Bank of America to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, April 16th. 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. Citigroup dropped their price objective 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. JPMorgan Chase & Co. reduced their target price on Bank of America from $49.50 to $43.50 and set an “overweight” rating on the stock in a report on Thursday, April 3rd. Finally, UBS Group raised their price target on Bank of America from $46.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and an average target price of $47.50.

About Bank of America

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.