Bank of America Co. (NYSE:BAC) Shares Acquired by A.P. Gilfoyle & Co. L.P.

A.P. Gilfoyle & Co. L.P. grew its holdings in Bank of America Co. (NYSE:BACFree Report) by 388.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,200 shares of the financial services provider’s stock after acquiring an additional 1,750 shares during the quarter. Bank of America comprises 4.4% of A.P. Gilfoyle & Co. L.P.’s investment portfolio, making the stock its 6th biggest holding. A.P. Gilfoyle & Co. L.P.’s holdings in Bank of America were worth $83,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Bank of America during the fourth quarter worth about $3,734,407,000. Price T Rowe Associates Inc. MD lifted its stake in Bank of America by 10.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 104,030,844 shares of the financial services provider’s stock valued at $3,502,720,000 after buying an additional 9,879,524 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Bank of America by 2.1% in the third quarter. Northern Trust Corp now owns 67,648,727 shares of the financial services provider’s stock valued at $1,852,222,000 after acquiring an additional 1,397,469 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Bank of America by 3.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 41,833,075 shares of the financial services provider’s stock worth $1,408,520,000 after acquiring an additional 1,315,056 shares during the last quarter. Finally, Parnassus Investments LLC increased its holdings in shares of Bank of America by 7.8% in the 4th quarter. Parnassus Investments LLC now owns 40,508,709 shares of the financial services provider’s stock valued at $1,363,928,000 after acquiring an additional 2,935,040 shares during the period. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

BAC has been the subject of a number of recent research reports. Erste Group Bank upgraded shares of Bank of America from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. UBS Group restated a “neutral” rating and issued a $40.00 price target (up previously from $39.00) on shares of Bank of America in a research report on Thursday, April 4th. JPMorgan Chase & Co. lifted their target price on Bank of America from $39.50 to $40.50 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. HSBC reaffirmed a “hold” rating and set a $39.00 price target (up from $38.00) on shares of Bank of America in a report on Thursday, March 28th. Finally, Evercore ISI boosted their price objective on shares of Bank of America from $37.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $39.79.

Check Out Our Latest Stock Analysis on Bank of America

Bank of America Price Performance

NYSE BAC traded up $0.32 during mid-day trading on Tuesday, hitting $39.83. The stock had a trading volume of 6,952,552 shares, compared to its average volume of 38,620,777. The company has a 50 day simple moving average of $38.27 and a 200 day simple moving average of $35.57. 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 company has a market cap of $311.49 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 1.75 and a beta of 1.36. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $40.19.

Bank of America (NYSE:BACGet Free Report) last released its quarterly earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.06. The business had revenue of $25.82 billion during the quarter, compared to the consensus estimate of $25.49 billion. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The business’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.94 EPS. Equities analysts forecast that Bank of America Co. will post 3.21 EPS for the current fiscal year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.24 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.96 annualized dividend and a dividend yield of 2.41%. Bank of America’s dividend payout ratio is presently 33.22%.

About Bank of America

(Free Report)

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.

See Also

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

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