Caxton Associates LP reduced its position in Bank of America Corp (NYSE:BAC) by 3.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 298,185 shares of the financial services provider’s stock after selling 12,105 shares during the quarter. Bank of America comprises about 1.2% of Caxton Associates LP’s holdings, making the stock its 12th largest position. Caxton Associates LP’s holdings in Bank of America were worth $7,347,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. CRA Financial Services LLC purchased a new stake in shares of Bank of America during the 4th quarter worth $1,320,000. PGGM Investments purchased a new stake in shares of Bank of America in the 4th quarter worth about $128,471,000. Fosun International Ltd boosted its position in shares of Bank of America by 333.9% in the 4th quarter. Fosun International Ltd now owns 40,783 shares of the financial services provider’s stock worth $1,005,000 after buying an additional 31,383 shares in the last quarter. Sunesis Advisors LLC purchased a new stake in shares of Bank of America in the 4th quarter worth about $268,000. Finally, First Citizens Bank & Trust Co. boosted its position in shares of Bank of America by 1.0% in the 4th quarter. First Citizens Bank & Trust Co. now owns 311,732 shares of the financial services provider’s stock worth $7,681,000 after buying an additional 2,994 shares in the last quarter. 65.22% of the stock is currently owned by institutional investors.
BAC has been the topic of several recent research reports. UBS Group set a $33.00 price objective on shares of Bank of America and gave the stock a “buy” rating in a research report on Saturday, February 2nd. Edward Jones upgraded shares of Bank of America from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. Daiwa Capital Markets lowered shares of Bank of America from an “outperform” rating to a “market perform” rating in a research report on Friday, February 8th. Jefferies Financial Group boosted their price objective on shares of Bank of America from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, January 18th. Finally, Wells Fargo & Co set a $36.00 price objective on shares of Bank of America and gave the stock a “buy” rating in a research report on Wednesday, January 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. Bank of America has an average rating of “Hold” and a consensus target price of $33.37.
Shares of BAC stock opened at $29.84 on Tuesday. Bank of America Corp has a twelve month low of $22.66 and a twelve month high of $31.91. The stock has a market capitalization of $309.05 billion, a P/E ratio of 11.43, a PEG ratio of 1.27 and a beta of 1.47. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.92 and a quick ratio of 0.91.
Bank of America (NYSE:BAC) last announced its earnings results on Wednesday, January 16th. The financial services provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Bank of America had a net margin of 25.45% and a return on equity of 11.66%. The firm had revenue of $22.89 billion during the quarter, compared to the consensus estimate of $22.37 billion. During the same quarter in the previous year, the company posted $0.48 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts expect that Bank of America Corp will post 2.85 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.01%. The ex-dividend date was Thursday, February 28th. Bank of America’s payout ratio is 22.99%.
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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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.
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