British Airways Pensions Investment Management Ltd Has $21.67 Million Holdings in Bank of America Corp (BAC)

British Airways Pensions Investment Management Ltd trimmed its stake in shares of Bank of America Corp (NYSE:BAC) by 0.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 878,692 shares of the financial services provider’s stock after selling 876 shares during the period. Bank of America comprises about 0.9% of British Airways Pensions Investment Management Ltd’s portfolio, making the stock its 20th largest position. British Airways Pensions Investment Management Ltd’s holdings in Bank of America were worth $21,668,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Legal & General Group Plc increased its stake in Bank of America by 5.7% in the 4th quarter. Legal & General Group Plc now owns 43,093,827 shares of the financial services provider’s stock valued at $1,061,797,000 after buying an additional 2,322,908 shares during the last quarter. Aspen Investment Management Inc increased its stake in Bank of America by 9.1% in the 4th quarter. Aspen Investment Management Inc now owns 35,968 shares of the financial services provider’s stock valued at $886,000 after buying an additional 3,000 shares during the last quarter. Howard Financial Services LTD. acquired a new stake in Bank of America in the 4th quarter valued at $232,000. CSat Investment Advisory L.P. increased its stake in Bank of America by 13.2% in the 4th quarter. CSat Investment Advisory L.P. now owns 4,177 shares of the financial services provider’s stock valued at $103,000 after buying an additional 487 shares during the last quarter. Finally, IHT Wealth Management LLC increased its stake in Bank of America by 11.2% in the 4th quarter. IHT Wealth Management LLC now owns 45,549 shares of the financial services provider’s stock valued at $1,122,000 after buying an additional 4,592 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

In other news, insider Dean C. Athanasia sold 129,615 shares of Bank of America stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $29.78, for a total value of $3,859,934.70. Following the completion of the transaction, the insider now owns 243,617 shares of the company’s stock, valued at approximately $7,254,914.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.17% of the company’s stock.

Several brokerages have issued reports on BAC. ValuEngine upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Friday. Oppenheimer lifted their price target on shares of Bank of America from $38.00 to $40.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. HSBC began coverage on shares of Bank of America in a research note on Thursday, April 4th. They issued a “hold” rating and a $29.00 price target on the stock. Robert W. Baird reiterated a “hold” rating and issued a $28.00 price target on shares of Bank of America in a research note on Wednesday, January 2nd. Finally, Zacks Investment Research upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Tuesday, March 12th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $33.25.

Shares of BAC opened at $30.03 on Monday. Bank of America Corp has a one year low of $22.66 and a one year high of $31.91. The stock has a market capitalization 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 quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.96.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Bank of America had a net margin of 25.42% and a return on equity of 11.79%. The company had revenue of $23 billion during the quarter, compared to the consensus estimate of $23.24 billion. During the same quarter last year, the firm posted $0.62 EPS. The company’s quarterly revenue was down .4% on a year-over-year basis. On average, research analysts forecast that Bank of America Corp will post 2.86 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Thursday, February 28th. Bank of America’s dividend payout ratio (DPR) is presently 22.99%.

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

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