WINTON GROUP Ltd Buys 52,933 Shares of Bank of America Corporation $BAC

WINTON GROUP Ltd raised its stake in Bank of America Corporation (NYSE:BAC) by 367.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,337 shares of the financial services provider’s stock after buying an additional 52,933 shares during the period. WINTON GROUP Ltd’s holdings in Bank of America were worth $3,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its stake in Bank of America by 0.3% in the second quarter. Geode Capital Management LLC now owns 148,176,755 shares of the financial services provider’s stock worth $6,982,863,000 after purchasing an additional 403,652 shares in the last quarter. Norges Bank bought a new stake in Bank of America during the 2nd quarter valued at $5,091,641,000. Fisher Asset Management LLC lifted its holdings in shares of Bank of America by 5.2% in the 2nd quarter. Fisher Asset Management LLC now owns 51,405,673 shares of the financial services provider’s stock worth $2,432,516,000 after buying an additional 2,557,943 shares during the period. Amundi grew its position in shares of Bank of America by 3.7% during the 1st quarter. Amundi now owns 39,233,293 shares of the financial services provider’s stock worth $1,637,205,000 after buying an additional 1,413,313 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Bank of America by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 31,956,699 shares of the financial services provider’s stock worth $1,333,351,000 after buying an additional 188,638 shares in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Trading Down 0.1%

NYSE:BAC opened at $53.87 on Tuesday. The stock has a market capitalization of $393.39 billion, a price-to-earnings ratio of 14.68 and a beta of 1.30. Bank of America Corporation has a 52 week low of $33.06 and a 52 week high of $54.83. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The firm has a 50 day moving average of $52.11 and a 200 day moving average of $49.23.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.13. The business had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $27.05 billion. Bank of America had a return on equity of 10.76% and a net margin of 15.70%.The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 earnings per share. As a group, sell-side analysts anticipate that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, December 5th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, December 5th. Bank of America’s dividend payout ratio (DPR) is currently 30.52%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Piper Sandler lifted their price objective on Bank of America from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, October 16th. Dbs Bank raised shares of Bank of America to a “moderate buy” rating in a research report on Wednesday, October 22nd. Argus boosted their price target on shares of Bank of America from $53.00 to $58.00 in a report on Friday, October 17th. Morgan Stanley upped their price target on shares of Bank of America from $67.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen raised shares of Bank of America from a “sell” rating to a “hold” rating in a report on Sunday, October 19th. Twenty-three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and a consensus price target of $57.77.

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.