Marietta Investment Partners LLC Boosts Holdings in Bank of America Co. (NYSE:BAC)

Marietta Investment Partners LLC increased its position in Bank of America Co. (NYSE:BAC - Free Report) by 21.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,574 shares of the financial services provider's stock after buying an additional 8,307 shares during the period. Marietta Investment Partners LLC's holdings in Bank of America were worth $2,091,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Bank of America by 1.2% during the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider's stock valued at $5,546,871,000 after buying an additional 1,700,141 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Bank of America by 4.9% during the 4th quarter. Bank of New York Mellon Corp now owns 59,613,837 shares of the financial services provider's stock worth $2,620,028,000 after acquiring an additional 2,806,927 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Bank of America by 3.7% in the 4th quarter. Fisher Asset Management LLC now owns 46,887,442 shares of the financial services provider's stock worth $2,060,703,000 after acquiring an additional 1,671,610 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 valued at $1,886,769,000 after purchasing an additional 297,858 shares during the last quarter. Finally, Amundi lifted its position in shares of Bank of America by 37.1% during the fourth quarter. Amundi now owns 37,819,980 shares of the financial services provider's stock valued at $1,747,658,000 after purchasing an additional 10,231,001 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

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Bank of America Price Performance

NYSE:BAC traded up $0.24 during trading hours on Tuesday, hitting $43.31. The stock had a trading volume of 25,443,269 shares, compared to its average volume of 35,911,329. The firm has a market capitalization of $329.28 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 1.21 and a beta of 1.32. Bank of America Co. has a one year low of $34.15 and a one year high of $48.08. The company has a 50 day simple moving average of $44.72 and a two-hundred day simple moving average of $43.87. 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 (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 (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion during 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 firm's quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company earned $0.70 earnings per share. Research analysts forecast that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, March 7th. Bank of America's dividend payout ratio (DPR) is currently 32.30%.

Wall Street Analyst Weigh In

Several research firms have commented on BAC. Keefe, Bruyette & Woods increased their price objective on shares of Bank of America from $50.00 to $57.00 and gave the company an "outperform" rating in a research note on Tuesday, December 3rd. Hsbc Global Res raised Bank of America from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. HSBC raised shares of Bank of America from a "hold" rating to a "buy" rating and set a $50.00 price target on the stock in a report on Tuesday, January 7th. UBS Group upgraded shares of Bank of America from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $43.00 to $53.00 in a report on Tuesday, January 7th. Finally, Baird R W upgraded shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Bank of America currently has an average rating of "Moderate Buy" and a consensus price target of $48.45.

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.