Clear Harbor Asset Management LLC grew its holdings in Bank of America Corp (NYSE:BAC) by 32.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,679 shares of the financial services provider’s stock after buying an additional 4,050 shares during the period. Clear Harbor Asset Management LLC’s holdings in Bank of America were worth $411,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. CI Investments Inc. increased its holdings in shares of Bank of America by 168.5% in the 3rd quarter. CI Investments Inc. now owns 5,840,497 shares of the financial services provider’s stock worth $172,061,000 after buying an additional 3,665,300 shares during the last quarter. Affinity Investment Advisors LLC grew its holdings in Bank of America by 12.9% during the 3rd quarter. Affinity Investment Advisors LLC now owns 794,521 shares of the financial services provider’s stock valued at $23,407,000 after purchasing an additional 90,669 shares during the last quarter. Gratus Capital LLC grew its holdings in Bank of America by 15.4% during the 3rd quarter. Gratus Capital LLC now owns 18,265 shares of the financial services provider’s stock valued at $538,000 after purchasing an additional 2,444 shares during the last quarter. Peak Asset Management LLC bought a new position in Bank of America during the 3rd quarter valued at about $201,000. Finally, CIBC World Markets Inc. grew its holdings in Bank of America by 13.7% during the 3rd quarter. CIBC World Markets Inc. now owns 2,581,289 shares of the financial services provider’s stock valued at $76,045,000 after purchasing an additional 310,974 shares during the last quarter. 65.25% of the stock is owned by institutional investors and hedge funds.
Shares of BAC remained flat at $$30.03 during mid-day trading on Friday. 61,796,624 shares of the stock traded hands, compared to its average volume of 67,061,420. Bank of America Corp has a 52-week low of $22.66 and a 52-week high of $31.91. The stock has a market cap of $307.62 billion, a PE ratio of 11.51, a PEG ratio of 1.31 and a beta of 1.47. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.91 and a quick ratio of 0.91.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $0.60 annualized dividend and a yield of 2.00%. Bank of America’s dividend payout ratio is presently 22.99%.
Several equities analysts recently commented on BAC shares. UBS Group set a $33.00 price target on shares of Bank of America and gave the company a “buy” rating in a report on Saturday, February 2nd. HSBC started coverage on shares of Bank of America in a report on Thursday, April 4th. They set a “hold” rating and a $29.00 price target on the stock. Barclays reiterated a “hold” rating on shares of Bank of America in a report on Thursday, January 17th. ValuEngine downgraded shares of Bank of America from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Finally, BMO Capital Markets upped their price target on shares of Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a report on Wednesday. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Bank of America has an average rating of “Hold” and a consensus target price of $33.25.
In related news, insider Dean C. Athanasia sold 129,615 shares of the firm’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $29.78, for a total transaction of $3,859,934.70. Following the sale, the insider now owns 243,617 shares in the company, valued at $7,254,914.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.17% of the stock is currently owned by company insiders.
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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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.
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