Campbell & CO Investment Adviser LLC Acquires New Position in Bank of America Co. (NYSE:BAC)

Campbell & CO Investment Adviser LLC acquired a new stake in shares of Bank of America Co. (NYSE:BAC) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 32,385 shares of the financial services provider’s stock, valued at approximately $1,090,000.

Several other large investors also recently bought and sold shares of BAC. California State Teachers Retirement System boosted its holdings in Bank of America by 0.8% in the 4th quarter. California State Teachers Retirement System now owns 11,439,430 shares of the financial services provider’s stock valued at $385,166,000 after purchasing an additional 85,486 shares during the last quarter. GoodHaven Capital Management LLC boosted its holdings in Bank of America by 21.5% in the 4th quarter. GoodHaven Capital Management LLC now owns 469,881 shares of the financial services provider’s stock valued at $15,821,000 after purchasing an additional 83,060 shares during the last quarter. United Community Bank boosted its holdings in Bank of America by 105.9% in the 4th quarter. United Community Bank now owns 12,618 shares of the financial services provider’s stock valued at $425,000 after purchasing an additional 6,491 shares during the last quarter. Partners Capital Investment Group LLP boosted its holdings in Bank of America by 64.9% in the 4th quarter. Partners Capital Investment Group LLP now owns 17,389 shares of the financial services provider’s stock valued at $585,000 after purchasing an additional 6,842 shares during the last quarter. Finally, Financial Partners Group LLC acquired a new position in Bank of America in the 4th quarter valued at about $1,455,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

Bank of America stock opened at $39.67 on Wednesday. Bank of America Co. has a 52-week low of $24.96 and a 52-week high of $40.19. The company’s 50 day moving average is $37.91 and its two-hundred day moving average is $34.96. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The firm has a market cap of $310.23 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 1.76 and a beta of 1.36.

Bank of America (NYSE:BACGet Free Report) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The company had revenue of $25.82 billion for the quarter, compared to the consensus estimate of $25.49 billion. During the same period in the prior year, the firm posted $0.94 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, research analysts expect that Bank of America Co. will post 3.23 EPS for the current fiscal year.

Bank of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, June 7th. Bank of America’s dividend payout ratio is presently 33.22%.

Analyst Ratings Changes

BAC has been the topic of several recent analyst reports. Erste Group Bank upgraded shares of Bank of America from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. JPMorgan Chase & Co. upped their price objective on shares of Bank of America from $39.50 to $40.50 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Citigroup upped their price objective on shares of Bank of America from $37.00 to $39.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Keefe, Bruyette & Woods upped their price objective on shares of Bank of America from $33.00 to $37.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Finally, Piper Sandler upped their price objective on shares of Bank of America from $35.00 to $37.00 and gave the stock an “underweight” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $39.26.

View Our Latest Stock Analysis on Bank of America

Bank of America Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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