66,334 Shares in Bank of America Co. (NYSE:BAC) Acquired by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA purchased a new position in shares of Bank of America Co. (NYSE:BAC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 66,334 shares of the financial services provider’s stock, valued at approximately $2,874,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BAC. Swedbank AB lifted its position in Bank of America by 0.7% during the 3rd quarter. Swedbank AB now owns 7,042,374 shares of the financial services provider’s stock worth $279,441,000 after acquiring an additional 50,849 shares in the last quarter. Silver Oak Securities Incorporated increased its holdings in Bank of America by 40.7% during the 3rd quarter. Silver Oak Securities Incorporated now owns 10,945 shares of the financial services provider’s stock worth $431,000 after purchasing an additional 3,164 shares during the last quarter. Consolidated Portfolio Review Corp increased its holdings in Bank of America by 3.4% during the 3rd quarter. Consolidated Portfolio Review Corp now owns 12,871 shares of the financial services provider’s stock worth $511,000 after purchasing an additional 419 shares during the last quarter. GHP Investment Advisors Inc. increased its holdings in Bank of America by 1.9% during the 3rd quarter. GHP Investment Advisors Inc. now owns 130,349 shares of the financial services provider’s stock worth $5,172,000 after purchasing an additional 2,467 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in Bank of America by 2.8% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 6,319,991 shares of the financial services provider’s stock worth $247,637,000 after purchasing an additional 172,779 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Trading Down 1.1 %

NYSE:BAC opened at $44.80 on Monday. Bank of America Co. has a 12-month low of $33.37 and a 12-month high of $48.08. The firm has a market capitalization of $343.71 billion, a P/E ratio of 13.91, a P/E/G ratio of 1.22 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The business has a 50 day simple moving average of $45.75 and a 200 day simple moving average of $43.41.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the previous year, the firm posted $0.70 EPS. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. Equities research analysts predict that Bank of America Co. will post 3.69 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.32%. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

Analyst Ratings Changes

Several equities research analysts have issued reports on BAC shares. Evercore ISI dropped their price objective on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Oppenheimer lifted their price objective on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $43.00 to $53.00 in a report on Tuesday, January 7th. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, January 7th. Finally, Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and boosted their price target for the company from $46.00 to $54.00 in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

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.