Robeco Institutional Asset Management B.V. Buys 269,390 Shares of Bank of America Co. (NYSE:BAC)

Robeco Institutional Asset Management B.V. boosted its holdings in shares of Bank of America Co. (NYSE:BAC) by 2.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,667,345 shares of the financial services provider’s stock after acquiring an additional 269,390 shares during the period. Bank of America comprises approximately 0.8% of Robeco Institutional Asset Management B.V.’s holdings, making the stock its 19th largest position. Robeco Institutional Asset Management B.V.’s holdings in Bank of America were worth $424,880,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Accent Capital Management LLC raised its holdings 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 purchasing an additional 11,873 shares during the last quarter. Summit Global Investments raised its holdings in shares of Bank of America by 237.6% in the third 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 during the last quarter. Geode Capital Management LLC raised its holdings 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 last quarter. Baker Avenue Asset Management LP raised its holdings in shares of Bank of America by 125.8% in the third quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider’s stock valued at $2,421,000 after purchasing an additional 33,983 shares during the last quarter. Finally, Clarendon Private LLC purchased a new stake in shares of Bank of America in the fourth quarter valued at about $798,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on BAC shares. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and increased their target price for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price objective on shares of Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $46.00 to $54.00 in a report on Friday, November 8th. Finally, Evercore ISI decreased their price objective on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Trading Down 0.4 %

Shares of Bank of America stock opened at $46.88 on Wednesday. Bank of America Co. has a 1 year low of $32.35 and a 1 year high of $48.08. The firm has a market cap of $359.70 billion, a PE ratio of 14.56, a PEG ratio of 1.24 and a beta of 1.33. 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 has a 50 day simple moving average of $45.83 and a two-hundred day simple moving average of $42.70.

Bank of America (NYSE:BAC) last announced its earnings results 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. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same period in the previous year, the business posted $0.70 earnings per share. Bank of America’s revenue for the quarter was up 15.0% on a year-over-year basis. Analysts expect that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

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.