Cordatus Wealth Management LLC Acquires New Stake in Bank of America Co. (NYSE:BAC)

Cordatus Wealth Management LLC bought a new position in shares of Bank of America Co. (NYSE:BAC) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 79,957 shares of the financial services provider’s stock, valued at approximately $3,514,000. Bank of America accounts for 0.9% of Cordatus Wealth Management LLC’s holdings, making the stock its 28th biggest holding.

A number of other institutional investors have also recently made changes to their positions in the stock. Two Sigma Advisers LP lifted its holdings in Bank of America by 31,021.6% in the third quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider’s stock valued at $405,049,000 after buying an additional 10,175,100 shares during the period. Swedbank AB grew its holdings in Bank of America by 81.4% during the 4th quarter. Swedbank AB now owns 12,776,184 shares of the financial services provider’s stock worth $561,513,000 after acquiring an additional 5,733,810 shares during the period. KBC Group NV raised its position in shares of Bank of America by 130.9% in the 4th quarter. KBC Group NV now owns 9,692,279 shares of the financial services provider’s stock worth $425,976,000 after acquiring an additional 5,493,817 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Bank of America by 193.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider’s stock valued at $301,898,000 after purchasing an additional 5,015,378 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of Bank of America by 3,550.7% during the 3rd quarter. International Assets Investment Management LLC now owns 4,547,788 shares of the financial services provider’s stock valued at $1,804,560,000 after purchasing an additional 4,423,215 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Down 1.5 %

NYSE BAC opened at $45.31 on Friday. 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 firm has a market capitalization of $347.62 billion, a P/E ratio of 14.07, a PEG ratio of 1.24 and a beta of 1.33. The business has a fifty day simple moving average of $45.77 and a 200 day simple moving average of $43.27. Bank of America Co. has a 12 month low of $33.17 and a 12 month high of $48.08.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating 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 the consensus estimate of $25.12 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, analysts predict that Bank of America Co. will post 3.69 EPS for the current fiscal year.

Bank of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.30%. Bank of America’s payout ratio is presently 32.30%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Morgan Stanley lifted their target price on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. Evercore ISI cut their target price on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and lifted their price target for the company from $46.00 to $54.00 in a research note on Friday, November 8th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $48.58.

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.