Bank of America Co. (NYSE:BAC) Holdings Raised by Enterprise Financial Services Corp

Enterprise Financial Services Corp lifted its holdings in Bank of America Co. (NYSE:BAC) by 40.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,884 shares of the financial services provider’s stock after purchasing an additional 6,357 shares during the period. Enterprise Financial Services Corp’s holdings in Bank of America were worth $962,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Arizona State Retirement System grew its holdings in shares of Bank of America by 0.5% during the 4th quarter. Arizona State Retirement System now owns 2,028,439 shares of the financial services provider’s stock valued at $89,150,000 after acquiring an additional 10,377 shares in the last quarter. Accent Capital Management LLC lifted its position in shares of Bank of America by 43.0% during the 3rd quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider’s stock worth $1,567,000 after purchasing an additional 11,873 shares during the last quarter. Summit Global Investments boosted its stake in Bank of America by 237.6% during the 3rd quarter. Summit Global Investments now owns 51,278 shares of the financial services provider’s stock valued at $2,035,000 after purchasing an additional 36,089 shares during the period. Keybank National Association OH grew its holdings in Bank of America by 1.1% in the 4th quarter. Keybank National Association OH now owns 3,458,616 shares of the financial services provider’s stock valued at $152,006,000 after buying an additional 38,258 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Bank of America by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock worth $5,546,871,000 after buying an additional 1,700,141 shares during the period. 70.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BAC has been the topic of several research analyst reports. Wells Fargo & Company raised their price objective on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Robert W. Baird raised shares of Bank of America from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $45.00 to $50.00 in a research report on Friday. Evercore ISI decreased their target price on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Oppenheimer upped their price target on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Finally, Baird R W upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.64.

Bank of America Stock Down 0.2 %

NYSE:BAC opened at $41.39 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 12-month low of $34.15 and a 12-month high of $48.08. The stock’s fifty day simple moving average is $45.61 and its 200-day simple moving average is $43.72. The firm has a market capitalization of $314.72 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.21 and a beta of 1.32.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion during 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%. Bank of America’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 EPS. Equities research analysts expect that Bank of America Co. will post 3.7 earnings per share for the current year.

Bank of America Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio is 32.30%.

Bank of America Company 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.