Chicago Capital LLC Buys 1,586 Shares of Bank of America Co. (NYSE:BAC)

Chicago Capital LLC lifted its stake in Bank of America Co. (NYSE:BAC) by 11.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 15,509 shares of the financial services provider’s stock after purchasing an additional 1,586 shares during the quarter. Chicago Capital LLC’s holdings in Bank of America were worth $682,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Two Sigma Advisers LP increased its stake in shares of 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 worth $405,049,000 after purchasing an additional 10,175,100 shares in the last quarter. Swedbank AB increased its stake in Bank of America by 81.4% in the 4th quarter. Swedbank AB now owns 12,776,184 shares of the financial services provider’s stock worth $561,513,000 after buying an additional 5,733,810 shares in the last quarter. KBC Group NV increased its stake in 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 buying an additional 5,493,817 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in 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 acquiring an additional 5,015,378 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of Bank of America by 3,550.7% in the third 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 in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Stock Performance

BAC stock opened at $46.23 on Tuesday. Bank of America Co. has a twelve month low of $32.35 and a twelve month high of $48.08. The firm has a market cap of $354.72 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.26 and a beta of 1.33. The business’s fifty day simple moving average is $45.83 and its two-hundred day simple moving average is $42.77. 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 (NYSE:BAC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 14.10% and a return on equity of 10.29%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.70 EPS. Analysts predict that Bank of America Co. will post 3.67 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. Investors of record on Friday, March 7th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Friday, March 7th. Bank of America’s dividend payout ratio (DPR) is currently 32.30%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Citigroup upgraded 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 research report on Friday, November 8th. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price on the stock in a report on Friday, October 18th. Morgan Stanley raised 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. Barclays boosted their price target on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Oppenheimer raised their price objective on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.