Bank of America Corporation $BAC Shares Purchased by WINTON GROUP Ltd

WINTON GROUP Ltd increased its position in Bank of America Corporation (NYSE:BAC) by 367.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,337 shares of the financial services provider’s stock after acquiring an additional 52,933 shares during the period. WINTON GROUP Ltd’s holdings in Bank of America were worth $3,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Bank of America by 0.3% in the second quarter. Geode Capital Management LLC now owns 148,176,755 shares of the financial services provider’s stock worth $6,982,863,000 after purchasing an additional 403,652 shares during the last quarter. Norges Bank purchased a new stake in Bank of America in the second quarter valued at approximately $5,091,641,000. Fisher Asset Management LLC increased its holdings in Bank of America by 5.2% in the 2nd quarter. Fisher Asset Management LLC now owns 51,405,673 shares of the financial services provider’s stock worth $2,432,516,000 after buying an additional 2,557,943 shares during the period. Amundi increased its holdings in Bank of America by 3.7% in the 1st quarter. Amundi now owns 39,233,293 shares of the financial services provider’s stock worth $1,637,205,000 after buying an additional 1,413,313 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Bank of America by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 31,956,699 shares of the financial services provider’s stock worth $1,333,351,000 after buying an additional 188,638 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Down 0.1%

BAC stock opened at $53.87 on Tuesday. Bank of America Corporation has a one year low of $33.06 and a one year high of $54.83. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.79 and a current ratio of 0.79. The firm’s fifty day moving average is $52.11 and its 200 day moving average is $49.23. The firm has a market cap of $393.39 billion, a PE ratio of 14.68 and a beta of 1.30.

Bank of America (NYSE:BAC) last posted its earnings results on Wednesday, October 15th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.13. Bank of America had a net margin of 15.70% and a return on equity of 10.76%. The business had revenue of $5.35 billion for the quarter, compared to analyst estimates of $27.05 billion. During the same period in the prior year, the company posted $0.81 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, research analysts forecast that Bank of America Corporation will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, December 5th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, December 5th. Bank of America’s dividend payout ratio (DPR) is presently 30.52%.

Analysts Set New Price Targets

BAC has been the topic of several recent research reports. Truist Financial upped their price objective on shares of Bank of America from $51.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Phillip Securities boosted their target price on shares of Bank of America from $50.00 to $56.00 in a research report on Tuesday, October 21st. UBS Group upped their price target on shares of Bank of America from $55.00 to $57.00 and gave the company a “buy” rating in a report on Tuesday, October 7th. Morgan Stanley lifted their price objective on Bank of America from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Finally, Wells Fargo & Company boosted their price objective on Bank of America from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Twenty-three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $57.77.

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.