Picton Mahoney Asset Management Has $20.88 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

Picton Mahoney Asset Management raised its holdings in shares of Bank of America Co. (NYSE:BAC) by 8.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 475,092 shares of the financial services provider’s stock after acquiring an additional 38,186 shares during the period. Picton Mahoney Asset Management’s holdings in Bank of America were worth $20,879,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB boosted its stake in shares of Bank of America by 0.7% during the 3rd quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider’s stock worth $279,441,000 after buying an additional 50,849 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Bank of America by 3.8% during the third quarter. Principal Financial Group Inc. now owns 15,415,630 shares of the financial services provider’s stock worth $611,692,000 after buying an additional 569,385 shares in the last quarter. Harbour Investments Inc. grew its position in shares of Bank of America by 3.5% during the 3rd quarter. Harbour Investments Inc. now owns 27,487 shares of the financial services provider’s stock worth $1,091,000 after purchasing an additional 923 shares in the last quarter. GSA Capital Partners LLP increased its stake in Bank of America by 63.7% during the 3rd quarter. GSA Capital Partners LLP now owns 31,875 shares of the financial services provider’s stock worth $1,265,000 after acquiring an additional 12,402 shares during the period. Finally, MQS Management LLC bought a new stake in Bank of America during the third quarter worth about $322,000. Institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BAC shares. Truist Financial upped their price objective on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Evercore ISI decreased their target price on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Baird R W raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. Finally, Morgan Stanley raised their price objective on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.64.

Bank of America Stock Up 3.3 %

NYSE:BAC opened at $40.97 on Friday. Bank of America Co. has a fifty-two week low of $34.15 and a fifty-two week high of $48.08. The stock has a market capitalization of $311.45 billion, a P/E ratio of 12.72, a P/E/G ratio of 1.21 and a beta of 1.32. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The company’s 50-day simple moving average is $45.19 and its 200-day simple moving average is $43.71.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same period last year, the firm posted $0.70 EPS. Bank of America’s revenue was up 15.0% on a year-over-year basis. On average, equities analysts anticipate that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend 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 32.30%.

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.