Bank of America Co. (NYSE:BAC) Shares Acquired by FNY Investment Advisers LLC

FNY Investment Advisers LLC boosted its position in Bank of America Co. (NYSE:BAC) by 1,785.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 7,540 shares of the financial services provider’s stock after acquiring an additional 7,140 shares during the quarter. FNY Investment Advisers LLC’s holdings in Bank of America were worth $331,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Accent Capital Management LLC boosted its stake in shares of Bank of America by 43.0% in the third quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider’s stock valued at $1,567,000 after buying an additional 11,873 shares in the last quarter. Summit Global Investments increased its holdings in shares of Bank of America by 237.6% in 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 in the last quarter. Geode Capital Management LLC lifted its stake in shares of Bank of America by 1.2% in the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock valued at $5,546,871,000 after purchasing an additional 1,700,141 shares during the period. Baker Avenue Asset Management LP boosted its holdings in Bank of America by 125.8% during the third quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider’s stock worth $2,421,000 after buying an additional 33,983 shares in the last quarter. Finally, Copley Financial Group Inc. acquired a new position in Bank of America during the third quarter worth about $550,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Barclays boosted their price target on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods upped their target price on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Evercore ISI increased their price objective on shares of Bank of America from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Morgan Stanley downgraded shares of Bank of America from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $48.00 to $55.00 in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Bank of America has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

Bank of America Trading Down 0.0 %

Shares of BAC opened at $45.09 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80. Bank of America Co. has a one year low of $31.27 and a one year high of $48.08. The stock has a 50-day moving average price of $45.61 and a 200 day moving average price of $42.27. The company has a market capitalization 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.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.25 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The business’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 EPS. Sell-side analysts forecast that Bank of America Co. will post 3.27 EPS for the current fiscal year.

Bank of America Announces Dividend

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

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.