Bank of America Co. (NYSE:BAC) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in Bank of America Co. (NYSE:BAC) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,289,199 shares of the financial services provider’s stock after purchasing an additional 2,033,229 shares during the quarter. Bank of America comprises 0.5% of Geode Capital Management LLC’s investment portfolio, making the stock its 25th largest holding. Geode Capital Management LLC owned 1.85% of Bank of America worth $6,243,000,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Collier Financial acquired a new stake in shares of Bank of America during the fourth quarter worth about $25,000. Life Planning Partners Inc raised its stake in Bank of America by 3,883.2% during the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 545,936 shares during the last quarter. Graney & King LLC acquired a new stake in Bank of America during the 4th quarter worth approximately $25,000. Fairway Wealth LLC purchased a new position in shares of Bank of America in the 4th quarter valued at approximately $29,000. Finally, Highline Wealth Partners LLC increased its holdings in shares of Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 510 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Oppenheimer lifted their price objective on shares of Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Baird R W raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Barclays lifted their price objective on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Evercore ISI cut their target price on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Bank of America has a consensus rating of “Moderate Buy” and a consensus target price of $48.45.

Bank of America Price Performance

Shares of NYSE:BAC opened at $41.80 on Tuesday. Bank of America Co. has a one year low of $34.15 and a one year high of $48.08. The stock has a market cap of $317.80 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32. The business’s fifty day moving average price is $44.35 and its two-hundred day moving average price is $43.95. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 earnings per share. On average, analysts forecast that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Friday, March 7th. Bank of America’s dividend payout ratio is presently 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.