Hancock Whitney Corp Has $3.92 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

Hancock Whitney Corp grew its stake in shares of Bank of America Co. (NYSE:BAC) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,203 shares of the financial services provider’s stock after purchasing an additional 260 shares during the period. Hancock Whitney Corp’s holdings in Bank of America were worth $3,920,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Bank of America by 4.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,940,121 shares of the financial services provider’s stock worth $173,168,000 after buying an additional 173,021 shares during the period. OFI Invest Asset Management purchased a new position in Bank of America during the 4th quarter valued at about $60,679,000. Arizona State Retirement System increased its holdings in shares of Bank of America by 0.5% in the 4th quarter. Arizona State Retirement System now owns 2,028,439 shares of the financial services provider’s stock valued at $89,150,000 after purchasing an additional 10,377 shares during the period. Keybank National Association OH lifted its position in shares of Bank of America by 1.1% in the fourth quarter. Keybank National Association OH now owns 3,458,616 shares of the financial services provider’s stock worth $152,006,000 after purchasing an additional 38,258 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Bank of America by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 42,929,896 shares of the financial services provider’s stock worth $1,886,769,000 after purchasing an additional 297,858 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Up 2.2 %

Shares of BAC stock opened at $39.59 on Friday. Bank of America Co. has a 12 month low of $33.07 and a 12 month high of $48.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm has a market cap of $300.99 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.21 and a beta of 1.24. The stock has a 50 day moving average of $40.62 and a 200-day moving average of $43.55.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, April 15th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm had revenue of $27.37 billion during the quarter, compared to analysts’ expectations of $26.83 billion. On average, equities analysts predict that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 6th will be paid a dividend of $0.26 per share. The ex-dividend date is Friday, June 6th. This represents a $1.04 annualized dividend and a yield of 2.63%. Bank of America’s dividend payout ratio is 30.95%.

Analysts Set New Price Targets

A number of research firms have issued reports on BAC. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, January 7th. Morgan Stanley lifted their price objective on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Truist Financial dropped their target price on Bank of America from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Baird R W upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. Finally, Evercore ISI dropped their price objective on Bank of America from $51.00 to $48.00 and set an “outperform” rating on the stock in a report on Tuesday, April 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.43.

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.