PGGM Investments Has $1.01 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

PGGM Investments increased its position in Bank of America Co. (NYSE:BAC) by 142.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,039 shares of the financial services provider’s stock after buying an additional 17,660 shares during the quarter. PGGM Investments’ holdings in Bank of America were worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in BAC. Schechter Investment Advisors LLC raised its stake in shares of Bank of America by 8.2% during the third quarter. Schechter Investment Advisors LLC now owns 55,348 shares of the financial services provider’s stock valued at $1,515,000 after acquiring an additional 4,187 shares during the last quarter. Stonebridge Capital Advisors LLC lifted its holdings in Bank of America by 3.7% during the 3rd quarter. Stonebridge Capital Advisors LLC now owns 65,495 shares of the financial services provider’s stock worth $1,793,000 after buying an additional 2,332 shares during the period. Kingswood Wealth Advisors LLC grew its position in shares of Bank of America by 228.3% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 67,511 shares of the financial services provider’s stock valued at $2,273,000 after buying an additional 46,950 shares during the last quarter. Sarasin & Partners LLP acquired a new stake in shares of Bank of America in the fourth quarter valued at about $673,000. Finally, Pinnacle Associates Ltd. raised its position in shares of Bank of America by 30.0% during the third quarter. Pinnacle Associates Ltd. now owns 978,784 shares of the financial services provider’s stock worth $26,799,000 after acquiring an additional 225,767 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. BMO Capital Markets increased their target price on shares of Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Wells Fargo & Company boosted their target price on shares of Bank of America from $40.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. UBS Group reissued a “neutral” rating and issued a $40.00 price objective (up from $39.00) on shares of Bank of America in a research report on Thursday, April 4th. Keefe, Bruyette & Woods upped their target price on Bank of America from $33.00 to $37.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Finally, Morgan Stanley upgraded Bank of America from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $32.00 to $41.00 in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Bank of America has an average rating of “Hold” and an average target price of $38.53.

Bank of America Stock Down 0.7 %

BAC stock opened at $37.56 on Tuesday. The firm has a market capitalization of $296.37 billion, a PE ratio of 13.00, a P/E/G ratio of 1.69 and a beta of 1.39. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. Bank of America Co. has a twelve month low of $24.96 and a twelve month high of $38.49. The stock’s 50 day moving average is $36.20 and its 200-day moving average is $32.88.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The firm had revenue of $25.82 billion for the quarter, compared to the consensus estimate of $25.49 billion. During the same period in the previous year, the firm earned $0.94 EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. Sell-side analysts expect that Bank of America Co. will post 3.19 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Friday, June 7th. Bank of America’s payout ratio is 33.22%.

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.