Delta Lloyd Asset Management N.V. Invests $52.86 Million in Bank of America Corporation (BAC) Stock
Delta Lloyd Asset Management N.V. purchased a new position in Bank of America Corporation (NYSE:BAC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,178,951 shares of the bank’s stock, valued at approximately $52,861,000. Bank of America Corporation makes up approximately 1.5% of Delta Lloyd Asset Management N.V.’s portfolio, making the stock its 10th biggest position.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Tarbox Family Office Inc. boosted its holdings in Bank of America Corporation by 0.4% in the second quarter. Tarbox Family Office Inc. now owns 4,809 shares of the bank’s stock worth $117,000 after acquiring an additional 21 shares in the last quarter. Capital Management Corp VA boosted its holdings in Bank of America Corporation by 0.3% in the second quarter. Capital Management Corp VA now owns 10,385 shares of the bank’s stock worth $252,000 after acquiring an additional 33 shares in the last quarter. Gateway Advisory LLC boosted its holdings in Bank of America Corporation by 0.4% in the second quarter. Gateway Advisory LLC now owns 10,053 shares of the bank’s stock worth $244,000 after acquiring an additional 45 shares in the last quarter. Arbor Investment Advisors LLC boosted its holdings in Bank of America Corporation by 0.3% in the second quarter. Arbor Investment Advisors LLC now owns 14,328 shares of the bank’s stock worth $348,000 after acquiring an additional 46 shares in the last quarter. Finally, Lbmc Investment Advisors LLC lifted its holdings in shares of Bank of America Corporation by 0.3% during the second quarter. Lbmc Investment Advisors LLC now owns 16,851 shares of the bank’s stock worth $409,000 after purchasing an additional 51 shares during the period. 62.34% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently commented on BAC. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $30.00 target price (up previously from $29.00) on shares of Bank of America Corporation in a report on Friday, July 21st. BidaskClub raised Bank of America Corporation from a “sell” rating to a “hold” rating in a report on Friday, September 22nd. BMO Capital Markets reaffirmed a “market perform” rating and set a $29.00 target price (up previously from $27.00) on shares of Bank of America Corporation in a report on Monday, October 16th. UBS AG set a $27.00 target price on Bank of America Corporation and gave the stock a “hold” rating in a report on Monday, October 16th. Finally, Wells Fargo & Company began coverage on Bank of America Corporation in a report on Wednesday, August 9th. They set an “outperform” rating and a $30.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have issued a buy rating and three have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of C$25.82.
Bank of America Corporation (BAC) opened at C$26.51 on Friday. The firm has a market capitalization of $276,515.47, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 1.84 and a beta of 1.31. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.90 and a current ratio of 0.91. Bank of America Corporation has a 12 month low of C$18.63 and a 12 month high of C$27.98.
Bank of America Corporation (NYSE:BAC) last released its quarterly earnings data on Friday, October 13th. The bank reported C$0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of C$0.46 by C$0.02. The company had revenue of C$22.08 billion for the quarter, compared to analyst estimates of C$22.07 billion. Bank of America Corporation had a return on equity of 8.33% and a net margin of 20.66%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. equities analysts forecast that Bank of America Corporation will post 1.8 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Thursday, November 30th. Bank of America Corporation’s dividend payout ratio (DPR) is currently 27.43%.
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About Bank of America Corporation
Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.
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