Bank of America Co. (NYSE:BAC) Shares Purchased by Headlands Technologies LLC

Headlands Technologies LLC increased its holdings in Bank of America Co. (NYSE:BAC) by 2,531.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 131,953 shares of the financial services provider’s stock after purchasing an additional 126,938 shares during the period. Bank of America makes up 1.3% of Headlands Technologies LLC’s portfolio, making the stock its 8th biggest position. Headlands Technologies LLC’s holdings in Bank of America were worth $4,443,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Schechter Investment Advisors LLC increased its holdings in shares of Bank of America by 8.2% during the third quarter. Schechter Investment Advisors LLC now owns 55,348 shares of the financial services provider’s stock worth $1,515,000 after buying an additional 4,187 shares in the last quarter. Stonebridge Capital Advisors LLC increased its holdings in shares of Bank of America by 3.7% during the third quarter. Stonebridge Capital Advisors LLC now owns 65,495 shares of the financial services provider’s stock worth $1,793,000 after buying an additional 2,332 shares in the last quarter. Kingswood Wealth Advisors LLC increased its holdings in shares of Bank of America by 228.3% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 67,511 shares of the financial services provider’s stock worth $2,273,000 after buying an additional 46,950 shares in the last quarter. Sarasin & Partners LLP acquired a new stake in shares of Bank of America during the fourth quarter worth approximately $673,000. Finally, Pinnacle Associates Ltd. grew its stake in shares of Bank of America by 30.0% during the third quarter. Pinnacle Associates Ltd. now owns 978,784 shares of the financial services provider’s stock valued at $26,799,000 after purchasing an additional 225,767 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Trading Down 0.2 %

BAC opened at $37.83 on Friday. The firm’s fifty day moving average is $36.13 and its two-hundred day moving average is $32.76. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market cap of $298.50 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 1.69 and a beta of 1.39. Bank of America Co. has a twelve month low of $24.96 and a twelve month high of $38.49.

Bank of America (NYSE:BAC) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.06. The company had revenue of $25.82 billion for the quarter, compared to analyst estimates of $25.49 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.94 earnings per share. Equities research analysts anticipate that Bank of America Co. will post 3.19 EPS for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.96 annualized dividend and a yield of 2.54%. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.

Analysts Set New Price Targets

BAC has been the topic of several research analyst reports. Wolfe Research raised shares of Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research note on Friday, April 19th. Citigroup increased their price target on shares of Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Wells Fargo & Company increased their price target on shares of Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Morgan Stanley raised shares of Bank of America from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $32.00 to $41.00 in a research note on Tuesday, January 30th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Bank of America from $33.00 to $37.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $38.53.

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.