Bank of America Co. (NYSE:BAC) Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. decreased its position in Bank of America Co. (NYSE:BAC) by 31.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,335,138 shares of the financial services provider’s stock after selling 1,975,211 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.05% of Bank of America worth $1,460,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BAC. Barclays PLC lifted its holdings in shares of Bank of America by 97.3% in the third quarter. Barclays PLC now owns 41,290,694 shares of the financial services provider’s stock valued at $1,130,538,000 after buying an additional 20,362,295 shares during the period. Alphinity Investment Management Pty Ltd lifted its holdings in shares of Bank of America by 1,071.8% in the fourth 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 buying an additional 12,880,492 shares during the period. Darsana Capital Partners LP acquired a new stake in shares of Bank of America in the third quarter valued at $177,970,000. Canada Pension Plan Investment Board lifted its holdings in shares of Bank of America by 143.5% in the third quarter. Canada Pension Plan Investment Board now owns 10,659,309 shares of the financial services provider’s stock valued at $291,852,000 after buying an additional 6,281,690 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Bank of America in the third quarter valued at $168,610,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BAC shares. StockNews.com downgraded Bank of America from a “hold” rating to a “sell” rating in a report on Monday. HSBC reaffirmed a “hold” rating and set a $39.00 target price (up from $38.00) on shares of Bank of America in a report on Thursday, March 28th. Evercore ISI upped their target price on Bank of America from $37.00 to $41.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. upped their target price on Bank of America from $39.50 to $40.50 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, Jefferies Financial Group upped their target price on Bank of America from $36.00 to $39.00 and gave the company a “hold” rating in a report on Monday, April 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $38.70.

Bank of America Stock Performance

Shares of BAC stock opened at $39.76 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.79 and a quick ratio of 0.79. Bank of America Co. has a fifty-two week low of $24.96 and a fifty-two week high of $39.81. The stock’s 50-day moving average is $37.39 and its two-hundred day moving average is $34.23. The firm has a market cap of $310.94 billion, a P/E ratio of 13.76, a PEG ratio of 1.75 and a beta of 1.37.

Bank of America (NYSE:BAC) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.06. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The company had revenue of $25.82 billion for the quarter, compared to analyst estimates of $25.49 billion. During the same period in the prior year, the firm posted $0.94 EPS. The business’s revenue was down 1.7% compared to the same quarter last year. Analysts predict that Bank of America Co. will post 3.23 earnings per share for the current fiscal year.

Bank of America Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 2.41%. The ex-dividend date is Friday, June 7th. Bank of America’s payout ratio is currently 33.22%.

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.