Bank of America Co. (NYSE:BAC) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its position in shares of Bank of America Co. (NYSE:BAC) by 8.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,031,130 shares of the financial services provider’s stock after acquiring an additional 310,514 shares during the period. Mackenzie Financial Corp owned about 0.05% of Bank of America worth $135,728,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BAC. Moneta Group Investment Advisors LLC lifted its position in shares of Bank of America by 108,111.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 193,168,025 shares of the financial services provider’s stock worth $6,397,725,000 after buying an additional 192,989,515 shares during the last quarter. Norges Bank purchased a new stake in shares of Bank of America during the 4th quarter worth approximately $3,436,543,000. Barclays PLC lifted its position in shares of Bank of America by 97.3% during the 3rd quarter. Barclays PLC now owns 41,290,694 shares of the financial services provider’s stock worth $1,130,538,000 after buying an additional 20,362,295 shares during the last quarter. Snider Financial Group lifted its position in shares of Bank of America by 9,477.3% during the 1st quarter. Snider Financial Group now owns 14,448,357 shares of the financial services provider’s stock worth $5,956,000 after buying an additional 14,297,496 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd raised its position in Bank of America by 1,071.8% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 14,082,264 shares of the financial services provider’s stock valued at $474,150,000 after purchasing an additional 12,880,492 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Up 0.4 %

BAC stock opened at $35.95 on Tuesday. The company has a fifty day moving average of $35.48 and a 200-day moving average of $32.14. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $283.67 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 1.63 and a beta of 1.39. Bank of America Co. has a one year low of $24.96 and a one year high of $38.35.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Friday, January 12th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $22 billion during the quarter, compared to the consensus estimate of $23.70 billion. Bank of America had a net margin of 15.42% and a return on equity of 11.38%. The business’s revenue was down 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 EPS. As a group, analysts expect that Bank of America Co. will post 3.13 EPS for the current year.

Bank of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were issued a $0.24 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.67%. Bank of America’s dividend payout ratio is presently 31.27%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays upped their price target on shares of Bank of America from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Erste Group Bank upgraded shares of Bank of America from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. Evercore ISI upped their price target on shares of Bank of America from $37.00 to $41.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. HSBC reiterated a “hold” rating and issued a $39.00 price target (up previously from $38.00) on shares of Bank of America in a research report on Thursday, March 28th. Finally, UBS Group reiterated a “neutral” rating and issued a $40.00 price target (up previously from $39.00) on shares of Bank of America in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $38.29.

Bank of America 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.