Bank of America Co. (NYSE:BAC) Shares Acquired by Capital International Inc. CA

Capital International Inc. CA lifted its position in Bank of America Co. (NYSE:BAC - Free Report) by 31.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 589,574 shares of the financial services provider's stock after acquiring an additional 141,881 shares during the quarter. Capital International Inc. CA's holdings in Bank of America were worth $25,912,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Bank of America by 4.6% in 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 purchased a new position in Bank of America in the fourth quarter valued at about $60,679,000. Arizona State Retirement System grew its position in shares of Bank of America by 0.5% during the 4th quarter. Arizona State Retirement System now owns 2,028,439 shares of the financial services provider's stock valued at $89,150,000 after acquiring an additional 10,377 shares during the period. Keybank National Association OH lifted its stake in Bank of America by 1.1% in the fourth quarter. Keybank National Association OH now owns 3,458,616 shares of the financial services provider's stock valued at $152,006,000 after purchasing an additional 38,258 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position 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 buying an additional 297,858 shares during the last quarter. 70.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Morgan Stanley upped their price objective on shares of Bank of America from $54.00 to $56.00 and gave the company an "equal weight" rating in a report on Friday, January 17th. JPMorgan Chase & Co. dropped their target price on Bank of America from $49.50 to $43.50 and set an "overweight" rating on the stock in a research report on Thursday, April 3rd. Cfra Research increased their price objective on Bank of America to $47.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. Evercore ISI cut their price objective on shares of Bank of America from $51.00 to $48.00 and set an "outperform" rating for the company in a research report on Tuesday, April 1st. Finally, Hsbc Global Res raised shares of Bank of America from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, Bank of America currently has an average rating of "Moderate Buy" and a consensus target price of $47.43.

Bank of America Price Performance

Shares of NYSE BAC traded up $0.79 during mid-day trading on Wednesday, reaching $39.11. The company's stock had a trading volume of 34,780,532 shares, compared to its average volume of 39,023,187. The firm has a market capitalization of $297.35 billion, a PE ratio of 12.15, a P/E/G ratio of 1.21 and a beta of 1.24. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. Bank of America Co. has a 52 week low of $33.07 and a 52 week high of $48.08. The stock has a fifty day moving average of $40.93 and a two-hundred day moving average of $43.59.

Bank of America (NYSE:BAC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.10. The firm had revenue of $27.37 billion during the quarter, compared to the consensus estimate of $26.83 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. As a group, sell-side analysts anticipate that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a dividend of $0.26 per share. The ex-dividend date was Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.66%. Bank of America's dividend payout ratio 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.