O Shaughnessy Asset Management LLC Has $49.68 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

O Shaughnessy Asset Management LLC raised its stake in Bank of America Co. (NYSE:BAC - Free Report) by 4.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,130,368 shares of the financial services provider's stock after purchasing an additional 43,531 shares during the period. O Shaughnessy Asset Management LLC's holdings in Bank of America were worth $49,680,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of BAC. Clearbridge Investments LLC lifted its holdings in Bank of America by 8.2% during the 4th quarter. Clearbridge Investments LLC now owns 16,875,268 shares of the financial services provider's stock worth $741,668,000 after buying an additional 1,274,958 shares during the last quarter. RWA Wealth Partners LLC lifted its stake in Bank of America by 10.5% during the fourth quarter. RWA Wealth Partners LLC now owns 139,011 shares of the financial services provider's stock worth $6,110,000 after purchasing an additional 13,214 shares during the last quarter. Summit Securities Group LLC boosted its holdings in Bank of America by 17,800.0% in the fourth quarter. Summit Securities Group LLC now owns 17,900 shares of the financial services provider's stock worth $787,000 after purchasing an additional 17,800 shares during the period. American Money Management LLC increased its stake in Bank of America by 98.0% during the fourth quarter. American Money Management LLC now owns 12,664 shares of the financial services provider's stock valued at $557,000 after purchasing an additional 6,268 shares during the last quarter. Finally, Allianz SE bought a new position in shares of Bank of America in the 4th quarter worth about $14,282,000. Institutional investors and hedge funds own 70.71% of the company's stock.

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Analyst Ratings Changes

BAC has been the subject of a number of recent research reports. Baird R W raised shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 7th. Truist Financial raised their price target on Bank of America from $52.00 to $53.00 and gave the stock a "buy" rating in a report on Friday, January 17th. HSBC upgraded Bank of America from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. Citigroup reduced their price target on shares of Bank of America from $54.00 to $50.00 and set a "buy" rating for the company in a report on Monday, March 24th. Finally, Barclays increased their price objective on shares of Bank of America from $53.00 to $58.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Bank of America presently has an average rating of "Moderate Buy" and an average target price of $48.45.

Bank of America Price Performance

Shares of NYSE BAC traded up $0.55 during midday trading on Monday, reaching $41.80. The company's stock had a trading volume of 36,386,465 shares, compared to its average volume of 37,254,779. The company has a market cap of $317.80 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth 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 current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average price of $44.45 and a 200 day moving average price of $43.93.

Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate 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 company had revenue of $25.30 billion during the quarter, compared to analysts' expectations of $25.12 billion. During the same period last year, the company posted $0.70 earnings per share. The business's revenue for the quarter was up 15.0% on a year-over-year basis. On average, equities research analysts expect that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

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

About Bank of America

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.