Bank of America Co. (NYSE:BAC) Shares Acquired by Clearbridge Investments LLC

Clearbridge Investments LLC increased its position in Bank of America Co. (NYSE:BAC - Free Report) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,875,268 shares of the financial services provider's stock after purchasing an additional 1,274,958 shares during the quarter. Clearbridge Investments LLC owned approximately 0.22% of Bank of America worth $741,668,000 as of its most recent SEC filing.

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

Bank of America Trading Up 1.3 %

Shares of BAC traded up $0.55 during midday trading on Monday, hitting $41.80. 36,386,465 shares of the stock were exchanged, compared to its average volume of 37,254,779. 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 firm has a market cap of $317.80 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.21 and a beta of 1.32. Bank of America Co. has a 52-week low of $34.15 and a 52-week high of $48.08. The stock has a fifty day simple moving average of $44.45 and a 200 day simple moving average of $43.93.

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Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping 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 company's revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 earnings per share. On average, research analysts anticipate that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Friday, March 7th. Bank of America's payout ratio is 32.30%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BAC shares. UBS Group raised Bank of America from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. Robert W. Baird upgraded shares of Bank of America from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $45.00 to $50.00 in a research note on Friday, March 7th. Oppenheimer lifted their price target on shares of Bank of America from $54.00 to $55.00 and gave the stock an "outperform" rating in a report on Friday, January 17th. Hsbc Global Res upgraded Bank of America from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th. Finally, Citigroup decreased their price target on Bank of America from $54.00 to $50.00 and set a "buy" rating for the company in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $48.45.

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.