Vinva Investment Management Ltd Has $15.34 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

Vinva Investment Management Ltd raised its holdings in Bank of America Co. (NYSE:BAC) by 17.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 349,243 shares of the financial services provider’s stock after acquiring an additional 53,033 shares during the quarter. Vinva Investment Management Ltd’s holdings in Bank of America were worth $15,335,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BAC. Amundi lifted its stake in Bank of America by 37.1% in the fourth quarter. Amundi now owns 37,819,980 shares of the financial services provider’s stock valued at $1,747,658,000 after acquiring an additional 10,231,001 shares during the last quarter. Two Sigma Advisers LP lifted its stake in Bank of America by 31,021.6% in the third quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider’s stock valued at $405,049,000 after acquiring an additional 10,175,100 shares during the last quarter. Swedbank AB lifted its stake in Bank of America by 81.4% in the fourth quarter. Swedbank AB now owns 12,776,184 shares of the financial services provider’s stock valued at $561,513,000 after acquiring an additional 5,733,810 shares during the last quarter. KBC Group NV raised its position in shares of Bank of America by 130.9% in the fourth quarter. KBC Group NV now owns 9,692,279 shares of the financial services provider’s stock valued at $425,976,000 after purchasing an additional 5,493,817 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of Bank of America by 193.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider’s stock valued at $301,898,000 after purchasing an additional 5,015,378 shares during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Trading Up 0.4 %

Shares of Bank of America stock opened at $41.61 on Wednesday. The firm has a market capitalization of $316.37 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32. 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 company’s fifty day moving average price is $45.02 and its two-hundred day moving average price is $43.78. Bank of America Co. has a 52-week low of $34.15 and a 52-week high of $48.08.

Bank of America (NYSE:BAC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter in the previous year, the company earned $0.70 EPS. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, analysts expect that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.50%. Bank of America’s dividend payout ratio is presently 32.30%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BAC. Barclays lifted their price target on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Oppenheimer lifted their price target on shares of Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their price target on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Baird R W raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.64.

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.