Bank of America Co. (NYSE:BAC) Stock Holdings Decreased by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd reduced its position in Bank of America Co. (NYSE:BAC) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 551,730 shares of the financial services provider’s stock after selling 5,928 shares during the period. Bank of America comprises approximately 0.6% of Gulf International Bank UK Ltd’s holdings, making the stock its 25th largest position. Gulf International Bank UK Ltd’s holdings in Bank of America were worth $24,248,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Collier Financial acquired a new stake in shares of Bank of America during the fourth quarter worth approximately $25,000. Life Planning Partners Inc boosted its holdings in shares of Bank of America by 3,883.2% during the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 545,936 shares during the period. Kennebec Savings Bank acquired a new stake in shares of Bank of America during the third quarter worth approximately $29,000. Highline Wealth Partners LLC boosted its holdings in shares of Bank of America by 152.7% during the fourth 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 period. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Bank of America during the fourth quarter worth approximately $42,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Stock Performance

Shares of BAC stock opened at $43.96 on Thursday. The business’s 50 day simple moving average is $45.72 and its 200 day simple moving average is $43.50. Bank of America Co. has a one year low of $33.71 and a one year high of $48.08. The stock has a market capitalization of $337.28 billion, a PE ratio of 13.65, a PEG ratio of 1.21 and a beta of 1.33. 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) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The firm had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 EPS. As a group, research analysts forecast that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Friday, March 7th. Bank of America’s payout ratio is 32.30%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Barclays raised their price target 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. Wells Fargo & Company raised their price target on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Keefe, Bruyette & Woods raised their price target on shares of Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Morgan Stanley lifted their target price on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Finally, UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and lifted their target price for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

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.