Janus Henderson Group PLC increased its position in Bank of America Corp (NYSE:BAC) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,765,866 shares of the financial services provider’s stock after purchasing an additional 717,547 shares during the quarter. Janus Henderson Group PLC’s holdings in Bank of America were worth $414,368,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. TFO TDC LLC bought a new position in shares of Bank of America during the fourth quarter valued at $26,000. Sage Financial Group Inc. bought a new position in shares of Bank of America during the fourth quarter valued at $38,000. Corbenic Partners LLC bought a new position in shares of Bank of America during the fourth quarter valued at $39,000. Carolina Wealth Advisors LLC bought a new position in shares of Bank of America during the fourth quarter valued at $43,000. Finally, Advisors Preferred LLC bought a new position in shares of Bank of America during the fourth quarter valued at $45,000. 71.53% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on the company. Wolfe Research cut Bank of America from an “outperform” rating to a “market perform” rating in a report on Wednesday. Morgan Stanley cut their price objective on Bank of America from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Atlantic Securities cut Bank of America from an “overweight” rating to a “neutral” rating and set a $36.00 price target for the company. in a report on Tuesday, January 21st. Citigroup cut their price target on Bank of America from $37.00 to $30.00 and set a “neutral” rating for the company in a report on Tuesday, March 10th. Finally, Deutsche Bank cut their price target on Bank of America from $33.00 to $25.00 and set a “hold” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $34.16.

Shares of BAC stock opened at $21.03 on Wednesday. The stock has a 50-day moving average price of $28.93 and a 200 day moving average price of $31.44. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 1.00. The firm has a market cap of $183.48 billion, a price-to-earnings ratio of 7.68, a PEG ratio of 0.88 and a beta of 1.63. Bank of America Corp has a 12 month low of $17.95 and a 12 month high of $35.72.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.05. The firm had revenue of $22.30 billion during the quarter, compared to analyst estimates of $22.30 billion. Bank of America had a return on equity of 11.95% and a net margin of 24.15%. The company’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the company earned $0.70 earnings per share. Sell-side analysts predict that Bank of America Corp will post 2.92 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, March 5th. This represents a $0.72 annualized dividend and a dividend yield of 3.42%. Bank of America’s payout ratio is currently 24.49%.

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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

Further Reading: Green Investing

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Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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