Generali Investments CEE investicni spolecnost a.s. Invests $4.15 Million in Bank of America Co. (NYSE:BAC)

Generali Investments CEE investicni spolecnost a.s. purchased a new stake in Bank of America Co. (NYSE:BAC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 94,500 shares of the financial services provider's stock, valued at approximately $4,153,000.

Several other institutional investors have also recently made changes to their positions in BAC. Collier Financial bought a new position in shares of Bank of America in the 4th quarter worth $25,000. Life Planning Partners Inc raised its holdings in Bank of America by 3,883.2% during the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider's stock worth $25,000 after buying an additional 545,936 shares during the last quarter. Kennebec Savings Bank bought a new position in shares of Bank of America in the third quarter valued at $29,000. Highline Wealth Partners LLC grew its holdings in shares of 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 valued at $37,000 after buying an additional 510 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Bank of America during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 70.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BAC shares. UBS Group raised shares of Bank of America from a "neutral" rating to a "buy" rating and raised their price target for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. Barclays raised their target price on Bank of America from $53.00 to $58.00 and gave the company an "overweight" rating in a report on Monday, January 6th. Wells Fargo & Company upped their price target on Bank of America from $52.00 to $56.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Robert W. Baird upgraded Bank of America from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $45.00 to $50.00 in a research note on Friday. Finally, HSBC upgraded shares of Bank of America from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Bank of America has an average rating of "Moderate Buy" and a consensus target price of $48.64.

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Bank of America Stock Performance

Shares of BAC stock traded down $0.21 on Tuesday, hitting $39.62. 50,561,860 shares of the stock were exchanged, compared to its average volume of 36,011,334. The firm's 50 day moving average is $45.53 and its two-hundred day moving average is $43.76. Bank of America Co. has a one year low of $34.15 and a one year high of $48.08. The firm has a market capitalization of $301.29 billion, a PE ratio of 12.30, a P/E/G ratio of 1.21 and a beta of 1.32. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC - Get Free Report) last issued its earnings results 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. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same quarter last year, the business earned $0.70 earnings per share. The company's quarterly revenue was up 15.0% on a year-over-year basis. Sell-side analysts expect that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.26 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.63%. Bank of America's dividend payout ratio is 32.30%.

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.