Cooke & Bieler LP Has $68.11 Million Stock Position in Bank of America Co. (NYSE:BAC)

Cooke & Bieler LP decreased its position in shares of Bank of America Co. (NYSE:BAC - Free Report) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,549,758 shares of the financial services provider's stock after selling 25,979 shares during the period. Cooke & Bieler LP's holdings in Bank of America were worth $68,112,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC bought a new position in Bank of America during the fourth quarter worth about $29,000. Cornerstone Advisors LLC raised its position in shares of Bank of America by 1.2% in the fourth quarter. Cornerstone Advisors LLC now owns 500,300 shares of the financial services provider's stock valued at $21,988,000 after buying an additional 5,700 shares in the last quarter. King Luther Capital Management Corp boosted its stake in shares of Bank of America by 0.3% in the fourth quarter. King Luther Capital Management Corp now owns 7,434,169 shares of the financial services provider's stock valued at $326,732,000 after buying an additional 20,835 shares during the period. Citizens Financial Group Inc. RI boosted its stake in shares of Bank of America by 3.3% in the fourth quarter. Citizens Financial Group Inc. RI now owns 1,040,862 shares of the financial services provider's stock valued at $45,746,000 after buying an additional 33,693 shares during the period. Finally, Net Worth Advisory Group grew its position in Bank of America by 78.1% during the fourth quarter. Net Worth Advisory Group now owns 10,409 shares of the financial services provider's stock worth $457,000 after buying an additional 4,566 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

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Bank of America Trading Down 0.5 %

NYSE BAC traded down $0.21 on Tuesday, reaching $39.62. The company had a trading volume of 50,561,860 shares, compared to its average volume of 36,019,015. The firm has a market cap of $301.29 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 1.21 and a beta of 1.32. 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 fifty-two week low of $34.15 and a fifty-two week high of $48.08. The business has a 50 day moving average of $45.44 and a two-hundred day moving average of $43.76.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same period last year, the company earned $0.70 earnings per share. The firm's revenue was up 15.0% compared to the same quarter last year. Analysts forecast that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.63%. Bank of America's dividend payout ratio (DPR) is currently 32.30%.

Analyst Ratings Changes

BAC has been the subject of several analyst reports. Morgan Stanley lifted their price objective on Bank of America from $54.00 to $56.00 and gave the company an "equal weight" rating in a report on Friday, January 17th. Barclays boosted their target price on shares of Bank of America from $53.00 to $58.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. UBS Group upgraded 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 report on Tuesday, January 7th. Oppenheimer boosted 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. Finally, Baird R W raised Bank of America from a "hold" rating to a "strong-buy" rating in a report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Bank of America has a consensus rating of "Moderate Buy" and a consensus price target of $48.64.

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.