Generali Investments Management Co LLC Makes New $4.39 Million Investment in Bank of America Co. (NYSE:BAC)

Generali Investments Management Co LLC purchased a new position in shares of Bank of America Co. (NYSE:BAC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 99,871 shares of the financial services provider’s stock, valued at approximately $4,389,000. Bank of America accounts for approximately 1.1% of Generali Investments Management Co LLC’s investment portfolio, making the stock its 21st biggest holding.

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. Fairway Wealth LLC acquired a new stake in shares of Bank of America during the fourth 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. Mascoma Wealth Management LLC lifted its stake in Bank of America by 68.2% in the fourth quarter. Mascoma Wealth Management LLC now owns 890 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 361 shares during the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new stake in Bank of America in the fourth quarter valued at approximately $42,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Trading Up 0.4 %

Shares of Bank of America stock opened at $41.61 on Wednesday. The firm has a market capitalization of $316.37 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32. 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 company’s fifty day moving average price is $45.02 and its two-hundred day moving average price is $43.78. Bank of America Co. has a 52-week low of $34.15 and a 52-week high of $48.08.

Bank of America (NYSE:BAC) last issued 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 for the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter in the previous year, the company earned $0.70 EPS. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, analysts expect that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

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 paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.50%. Bank of America’s dividend payout ratio is presently 32.30%.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Evercore ISI reduced their target price on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. Baird R W upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 7th. Finally, UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and lifted their price target for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.64.

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.