Bank of America Co. (NYSE:BAC) is Paradigm Asset Management Co. LLC's 2nd Largest Position

Paradigm Asset Management Co. LLC boosted its stake in Bank of America Co. (NYSE:BAC - Free Report) by 17.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,425 shares of the financial services provider's stock after purchasing an additional 17,600 shares during the period. Bank of America comprises 1.4% of Paradigm Asset Management Co. LLC's investment portfolio, making the stock its 2nd largest position. Paradigm Asset Management Co. LLC's holdings in Bank of America were worth $5,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Two Sigma Advisers LP grew its holdings in Bank of America by 31,021.6% in the 3rd quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider's stock worth $405,049,000 after acquiring an additional 10,175,100 shares during the last quarter. Swedbank AB boosted its holdings in shares of Bank of America by 81.4% during the fourth quarter. Swedbank AB now owns 12,776,184 shares of the financial services provider's stock worth $561,513,000 after purchasing an additional 5,733,810 shares during the period. KBC Group NV grew its stake in shares of Bank of America by 130.9% in the fourth quarter. KBC Group NV now owns 9,692,279 shares of the financial services provider's stock worth $425,976,000 after purchasing an additional 5,493,817 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in Bank of America by 193.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider's stock valued at $301,898,000 after purchasing an additional 5,015,378 shares during the period. Finally, International Assets Investment Management LLC raised its position in Bank of America by 3,550.7% during the 3rd quarter. International Assets Investment Management LLC now owns 4,547,788 shares of the financial services provider's stock valued at $1,804,560,000 after purchasing an additional 4,423,215 shares during the last quarter. Institutional investors own 70.71% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Evercore ISI cut their price objective on Bank of America from $53.00 to $51.00 and set an "outperform" rating on the stock in a research report on Friday, January 17th. Truist Financial lifted their price target on shares of Bank of America from $52.00 to $53.00 and gave the company a "buy" rating in a report on Friday, January 17th. Barclays upped their price objective on shares of Bank of America from $53.00 to $58.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. Morgan Stanley lifted their target price on shares of Bank of America from $54.00 to $56.00 and gave the company an "equal weight" rating in a research note on Friday, January 17th. Finally, UBS Group raised shares of Bank of America from a "neutral" rating to a "buy" rating and increased their price target for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $48.58.

Bank of America Stock Down 1.1 %

BAC stock traded down $0.51 during trading on Friday, hitting $44.80. 43,472,525 shares of the stock traded hands, compared to its average volume of 35,078,777. 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 stock has a market cap of $343.71 billion, a price-to-earnings ratio of 13.91, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. Bank of America Co. has a 1 year low of $33.37 and a 1 year high of $48.08. The firm's 50 day moving average is $45.77 and its two-hundred day moving average is $43.27.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm's quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share. On average, sell-side analysts anticipate that Bank of America Co. will post 3.69 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America's payout ratio is currently 32.30%.

Bank of America Company 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.