Greenfield Savings Bank Increases Position in Bank of America Co. (NYSE:BAC)

Greenfield Savings Bank increased its position in Bank of America Co. (NYSE:BAC) by 0.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 39,947 shares of the financial services provider’s stock after buying an additional 313 shares during the period. Greenfield Savings Bank’s holdings in Bank of America were worth $1,756,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of BAC. Two Sigma Advisers LP grew its position in shares of Bank of America by 31,021.6% during the third quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider’s stock worth $405,049,000 after purchasing an additional 10,175,100 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in Bank of America by 1,432.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 6,151,042 shares of the financial services provider’s stock worth $244,627,000 after purchasing an additional 5,749,567 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Bank of America by 193.4% during the third 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 buying an additional 5,015,378 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Bank of America by 3,550.7% in 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 acquiring an additional 4,423,215 shares during the last quarter. Finally, D1 Capital Partners L.P. purchased a new stake in shares of Bank of America in the third quarter worth about $174,858,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 target price on shares of Bank of America in a research report on Wednesday, October 9th. Wells Fargo & Company raised their target price on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Morgan Stanley cut Bank of America from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $48.00 to $55.00 in a research note on Monday, December 9th. Finally, Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and increased their target price for the stock from $46.00 to $54.00 in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

Bank of America Trading Down 0.0 %

Shares of Bank of America stock opened at $45.09 on Tuesday. Bank of America Co. has a 1-year low of $31.27 and a 1-year high of $48.08. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $345.97 billion, a P/E ratio of 16.40, a P/E/G ratio of 1.55 and a beta of 1.33. The stock’s 50 day simple moving average is $45.61 and its 200-day simple moving average is $42.27.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.25 billion. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Bank of America’s quarterly revenue was up .4% on a year-over-year basis. Analysts predict that Bank of America Co. will post 3.27 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 6th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date was Friday, December 6th. Bank of America’s dividend payout ratio is presently 37.82%.

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.