Capital International Sarl Has $25.46 Million Stock Position in Bank of America Co. (NYSE:BAC)

Capital International Sarl lifted its stake in shares of Bank of America Co. (NYSE:BAC - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 579,309 shares of the financial services provider's stock after purchasing an additional 50,837 shares during the quarter. Capital International Sarl's holdings in Bank of America were worth $25,461,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co lifted its position in shares of Bank of America by 2.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 5,972,314 shares of the financial services provider's stock worth $262,469,000 after buying an additional 130,277 shares during the last quarter. Ally Financial Inc. acquired a new stake in shares of Bank of America in the fourth quarter valued at approximately $2,022,000. GKV Capital Management Co. Inc. acquired a new stake in Bank of America in the fourth quarter worth $88,000. Salzhauer Michael lifted its holdings in shares of Bank of America by 27.5% during the 4th quarter. Salzhauer Michael now owns 1,752,003 shares of the financial services provider's stock valued at $77,001,000 after purchasing an additional 377,900 shares in the last quarter. Finally, Greenwood Gearhart Inc. bought a new stake in shares of Bank of America during the fourth quarter worth $485,000. 70.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BAC has been the topic of a number of analyst reports. Citigroup dropped their price objective on Bank of America from $54.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, March 24th. Phillip Securities raised Bank of America from a "moderate buy" rating to a "strong-buy" rating in a research report on Thursday, April 17th. Barclays decreased their price objective on shares of Bank of America from $58.00 to $54.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada dropped their price objective on shares of Bank of America from $50.00 to $45.00 and set an "outperform" rating for the company in a research note on Wednesday, April 16th. Finally, Oppenheimer raised their price objective on shares of Bank of America from $54.00 to $55.00 and gave the company an "outperform" rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $47.43.

Bank of America Stock Up 3.3 %

Shares of BAC stock traded up $1.20 during trading hours on Tuesday, reaching $38.12. 12,860,374 shares of the stock were exchanged, compared to its average volume of 38,944,293. 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 12-month low of $33.07 and a 12-month high of $48.08. The firm has a market capitalization of $289.84 billion, a P/E ratio of 11.84, a P/E/G ratio of 1.21 and a beta of 1.24. The business's fifty day moving average is $41.09 and its two-hundred day moving average is $43.63.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.10. The business had revenue of $27.37 billion for the quarter, compared to the consensus estimate of $26.83 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. As a group, research analysts expect 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 given a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.73%. 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.