Mn Services Vermogensbeheer B.V. Grows Stock Holdings in Bank of America Co. (NYSE:BAC)

Mn Services Vermogensbeheer B.V. lifted its position in Bank of America Co. (NYSE:BAC) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,555,500 shares of the financial services provider’s stock after buying an additional 13,100 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Bank of America were worth $68,364,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Collier Financial purchased a new position in Bank of America in the fourth quarter worth $25,000. Kennebec Savings Bank purchased a new stake in shares of Bank of America during the 3rd quarter valued at $29,000. Highline Wealth Partners LLC boosted its position in shares of Bank of America by 152.7% in 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 in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Bank of America during the 4th quarter worth $42,000. Finally, POM Investment Strategies LLC increased its position in Bank of America by 1,306.5% during the 4th quarter. POM Investment Strategies LLC now owns 1,083 shares of the financial services provider’s stock valued at $48,000 after buying an additional 1,006 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of NYSE BAC opened at $43.96 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The firm’s 50 day simple moving average is $45.72 and its 200-day simple moving average is $43.50. Bank of America Co. has a 12 month low of $33.71 and a 12 month high of $48.08. The stock has a market capitalization of $337.28 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.21 and a beta of 1.33.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.70 earnings per share. Analysts expect that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.26 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.37%. Bank of America’s dividend payout ratio is presently 32.30%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $43.00 to $53.00 in a report on Tuesday, January 7th. Evercore ISI dropped their target price on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, January 7th. Wells Fargo & Company lifted their price objective on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Truist Financial raised their target price on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Company 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.