LVM Capital Management Ltd. MI Has $544,000 Holdings in Bank of America Co. (NYSE:BAC)

LVM Capital Management Ltd. MI boosted its stake in shares of Bank of America Co. (NYSE:BAC) by 13.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,202 shares of the financial services provider’s stock after buying an additional 1,528 shares during the period. LVM Capital Management Ltd. MI’s holdings in Bank of America were worth $544,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in Bank of America during the 4th quarter worth about $3,938,246,000. UBS Asset Management Americas Inc. raised its holdings in Bank of America by 0.8% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 29,530,173 shares of the financial services provider’s stock worth $1,253,556,000 after buying an additional 223,675 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Bank of America by 16.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 16,104,424 shares of the financial services provider’s stock worth $717,144,000 after buying an additional 2,232,964 shares during the period. Himalaya Capital Management LLC raised its holdings in Bank of America by 18.0% during the 4th quarter. Himalaya Capital Management LLC now owns 14,586,987 shares of the financial services provider’s stock worth $648,975,000 after buying an additional 2,228,000 shares during the period. Finally, Ensign Peak Advisors Inc raised its holdings in Bank of America by 9.8% during the 4th quarter. Ensign Peak Advisors Inc now owns 11,123,987 shares of the financial services provider’s stock worth $494,906,000 after buying an additional 994,774 shares during the period. Hedge funds and other institutional investors own 70.46% of the company’s stock.

Shares of Bank of America stock opened at $32.60 on Thursday. The stock has a market capitalization of $262.65 billion, a P/E ratio of 9.31, a PEG ratio of 1.40 and a beta of 1.38. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.16. The stock has a 50 day moving average price of $35.77 and a two-hundred day moving average price of $41.44. Bank of America Co. has a 12-month low of $30.86 and a 12-month high of $50.11.

Bank of America (NYSE:BACGet Rating) last announced its earnings results on Monday, April 18th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.04. The firm had revenue of $23.20 billion during the quarter, compared to analysts’ expectations of $23.09 billion. Bank of America had a return on equity of 12.55% and a net margin of 32.84%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. Sell-side analysts anticipate that Bank of America Co. will post 3.34 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 24th. Stockholders of record on Friday, June 3rd will be given a $0.21 dividend. The ex-dividend date is Thursday, June 2nd. This represents a $0.84 annualized dividend and a dividend yield of 2.58%. Bank of America’s dividend payout ratio is 24.00%.

BAC has been the topic of a number of research reports. Oppenheimer dropped their target price on Bank of America from $52.00 to $50.00 in a report on Tuesday, May 3rd. The Goldman Sachs Group dropped their target price on Bank of America from $52.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, April 20th. Robert W. Baird upgraded Bank of America from an “underperform” rating to a “neutral” rating and set a $42.00 target price on the stock in a report on Tuesday, March 8th. Morgan Stanley upgraded Bank of America from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $51.00 to $49.00 in a report on Monday, March 28th. Finally, Royal Bank of Canada dropped their target price on Bank of America from $51.00 to $45.00 in a report on Tuesday, June 14th. Eight equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and an average price target of $50.10.

Bank of America Company Profile (Get Rating)

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. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans.

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

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