LSV Asset Management Has $147.99 Million Stock Position in Bank of America Co. (NYSE:BAC)

LSV Asset Management lessened its position in shares of Bank of America Co. (NYSE:BAC) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,395,160 shares of the financial services provider’s stock after selling 56,600 shares during the quarter. LSV Asset Management owned approximately 0.06% of Bank of America worth $147,985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BAC. Fortis Group Advisors LLC acquired a new stake in shares of Bank of America during the 3rd quarter worth approximately $25,000. Glass Jacobson Investment Advisors llc boosted its stake in shares of Bank of America by 98.1% in the third quarter. Glass Jacobson Investment Advisors llc now owns 1,018 shares of the financial services provider’s stock valued at $28,000 after buying an additional 504 shares during the period. Criterion Capital Advisors LLC bought a new position in shares of Bank of America in the fourth quarter worth $32,000. ZRC Wealth Management LLC boosted its position in shares of Bank of America by 192.3% during the 4th quarter. ZRC Wealth Management LLC now owns 1,140 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 750 shares in the last quarter. Finally, Private Ocean LLC increased its stake in shares of Bank of America by 34.0% in the 4th quarter. Private Ocean LLC now owns 1,281 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 325 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Up 1.0 %

BAC traded up $0.37 during trading on Friday, hitting $37.25. 34,082,662 shares of the stock were exchanged, compared to its average volume of 41,339,492. Bank of America Co. has a 1 year low of $24.96 and a 1 year high of $38.49. The firm has a market cap of $291.31 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 1.65 and a beta of 1.37. The firm has a 50 day simple moving average of $36.46 and a 200 day simple moving average of $33.08. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, beating 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 analyst estimates of $25.49 billion. During the same period in the previous year, the company earned $0.94 earnings per share. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, equities analysts expect that Bank of America Co. will post 3.2 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, June 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.58%. Bank of America’s dividend payout ratio (DPR) is 33.22%.

Analyst Ratings Changes

BAC has been the subject of several recent research reports. Oppenheimer increased their price target on Bank of America from $45.00 to $46.00 and gave the company an “outperform” rating in a research note on Tuesday. Wolfe Research raised Bank of America from a “peer perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Friday, April 19th. Erste Group Bank upgraded Bank of America from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Keefe, Bruyette & Woods increased their target price on shares of 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 boosted their price objective for the company from $32.00 to $41.00 in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.70.

About Bank of America

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.