Van Lanschot Kempen Investment Management N.V. Acquires 138,931 Shares of Bank of America Co. (NYSE:BAC)

Van Lanschot Kempen Investment Management N.V. grew its holdings in shares of Bank of America Co. (NYSE:BAC - Free Report) by 15,716.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 139,815 shares of the financial services provider's stock after purchasing an additional 138,931 shares during the period. Van Lanschot Kempen Investment Management N.V.'s holdings in Bank of America were worth $6,145,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Graney & King LLC acquired a new stake in shares of Bank of America during the 4th quarter valued at $25,000. Collier Financial purchased a new stake in shares of Bank of America during the fourth quarter worth $25,000. Fairway Wealth LLC acquired a new stake in Bank of America during the fourth quarter valued at $29,000. Glass Jacobson Investment Advisors llc grew its stake in Bank of America by 53.0% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 276 shares in the last quarter. Finally, Highline Wealth Partners LLC increased its position in Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider's stock worth $37,000 after purchasing an additional 510 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Stock Performance

Bank of America stock traded up $0.09 during mid-day trading on Friday, hitting $39.67. 32,684,883 shares of the company's stock traded hands, compared to its average volume of 39,125,843. The firm has a 50 day simple moving average of $40.62 and a two-hundred day simple moving average of $43.55. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market cap of $301.60 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 1.21 and a beta of 1.24. Bank of America Co. has a fifty-two week low of $33.07 and a fifty-two week high of $48.08.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.10. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm had revenue of $27.37 billion during the quarter, compared to the consensus estimate of $26.83 billion. On average, research analysts expect that Bank of America Co. will post 3.7 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Friday, June 6th. Bank of America's payout ratio is 30.95%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Phillip Securities raised shares of Bank of America from a "moderate buy" rating to a "strong-buy" rating in a research note on Thursday, April 17th. Piper Sandler cut their price objective on Bank of America from $45.00 to $42.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. lowered their price target on Bank of America from $49.50 to $43.50 and set an "overweight" rating on the stock in a report on Thursday, April 3rd. Royal Bank of Canada dropped their target price on shares of Bank of America from $50.00 to $45.00 and set an "outperform" rating on the stock in a report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Bank of America from $55.00 to $52.00 and set an "outperform" rating for the company in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $47.43.

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.