BNP PARIBAS ASSET MANAGEMENT Holding S.A. Buys 1,437,843 Shares of Bank of America Co. (NYSE:BAC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Bank of America Co. (NYSE:BAC) by 35.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,500,472 shares of the financial services provider’s stock after acquiring an additional 1,437,843 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Bank of America were worth $208,578,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Joel Isaacson & Co. LLC grew its position in shares of Bank of America by 0.3% during the 1st quarter. Joel Isaacson & Co. LLC now owns 108,529 shares of the financial services provider’s stock valued at $4,115,000 after acquiring an additional 294 shares during the period. CKW Financial Group boosted its holdings in Bank of America by 1.5% in the 1st quarter. CKW Financial Group now owns 20,069 shares of the financial services provider’s stock worth $753,000 after buying an additional 300 shares during the period. Rossmore Private Capital boosted its holdings in Bank of America by 1.2% in the 4th quarter. Rossmore Private Capital now owns 26,537 shares of the financial services provider’s stock worth $894,000 after buying an additional 303 shares during the period. Chemistry Wealth Management LLC boosted its holdings in Bank of America by 0.3% in the 1st quarter. Chemistry Wealth Management LLC now owns 109,541 shares of the financial services provider’s stock worth $4,154,000 after buying an additional 310 shares during the period. Finally, Regent Peak Wealth Advisors LLC boosted its holdings in Bank of America by 3.2% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 9,976 shares of the financial services provider’s stock worth $336,000 after buying an additional 314 shares during the period. 70.71% of the stock is owned by institutional investors.

Bank of America Price Performance

Shares of NYSE BAC traded down $0.15 during mid-day trading on Wednesday, hitting $43.98. 65,686,164 shares of the company’s stock traded hands, compared to its average volume of 38,717,992. The company’s 50-day moving average is $39.93 and its two-hundred day moving average is $36.83. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market capitalization of $343.94 billion, a P/E ratio of 15.22, a PEG ratio of 1.60 and a beta of 1.35. Bank of America Co. has a 1 year low of $24.96 and a 1 year high of $44.44.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, July 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.04. The business had revenue of $25.38 billion during the quarter, compared to the consensus estimate of $25.22 billion. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 earnings per share. On average, equities analysts anticipate that Bank of America Co. will post 3.22 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Friday, June 7th. Bank of America’s payout ratio is currently 33.22%.

Analysts Set New Price Targets

Several research analysts recently weighed in on BAC shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $48.00 target price (up previously from $46.00) on shares of Bank of America in a report on Wednesday. Oppenheimer upped their target price on shares of Bank of America from $45.00 to $46.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. Piper Sandler raised shares of Bank of America from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $37.00 to $42.00 in a report on Tuesday, July 9th. Royal Bank of Canada upped their target price on shares of Bank of America from $39.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, BMO Capital Markets increased their price objective on shares of Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and a consensus target price of $41.76.

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.