Bank of America Co. (NYSE:BAC) Shares Purchased by Czech National Bank

Czech National Bank raised its position in Bank of America Co. (NYSE:BAC) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,447,360 shares of the financial services provider’s stock after acquiring an additional 72,144 shares during the quarter. Bank of America makes up approximately 0.6% of Czech National Bank’s portfolio, making the stock its 25th biggest position. Czech National Bank’s holdings in Bank of America were worth $63,611,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Bruce G. Allen Investments LLC boosted its position in Bank of America by 6.7% in the 4th quarter. Bruce G. Allen Investments LLC now owns 9,854 shares of the financial services provider’s stock valued at $433,000 after buying an additional 619 shares during the period. Atlas Brown Inc. raised its stake in shares of Bank of America by 4.3% in the fourth quarter. Atlas Brown Inc. now owns 38,590 shares of the financial services provider’s stock valued at $1,696,000 after acquiring an additional 1,584 shares in the last quarter. Sage Capital Advisors llc boosted its holdings in Bank of America by 78.7% in the fourth quarter. Sage Capital Advisors llc now owns 11,331 shares of the financial services provider’s stock valued at $498,000 after purchasing an additional 4,989 shares during the period. Highline Wealth Partners LLC increased its holdings in Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 510 shares during the period. Finally, Harbor Capital Advisors Inc. raised its position in Bank of America by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 149,812 shares of the financial services provider’s stock valued at $6,584,000 after purchasing an additional 3,608 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of BAC opened at $45.14 on Monday. The company has a market capitalization of $346.35 billion, a PE ratio of 16.41, a P/E/G ratio of 1.55 and a beta of 1.33. Bank of America Co. has a 52-week low of $31.27 and a 52-week high of $48.08. The company has a 50-day simple moving average of $45.53 and a 200-day simple moving average of $42.22. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.25 billion. During the same period last year, the firm earned $0.90 EPS. The company’s revenue for the quarter was up .4% on a year-over-year basis. Equities research analysts predict that Bank of America Co. will post 3.27 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 6th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Friday, December 6th. Bank of America’s dividend payout ratio is currently 37.82%.

Insider Transactions at Bank of America

In related news, major shareholder Berkshire Hathaway Inc sold 8,694,538 shares of Bank of America stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $42.55, for a total transaction of $369,952,591.90. Following the completion of the transaction, the insider now directly owns 766,305,462 shares in the company, valued at $32,606,297,408.10. The trade was a 1.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

BAC has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on Bank of America from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Barclays lifted their price objective on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Oppenheimer dropped their target price on Bank of America from $57.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Finally, Evercore ISI lifted their price target on Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $47.50.

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.