Daiwa Securities Group Inc. Has $41.27 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

Daiwa Securities Group Inc. reduced its holdings in Bank of America Co. (NYSE:BAC) by 2.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 938,908 shares of the financial services provider’s stock after selling 20,086 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Bank of America were worth $41,265,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BAC. OFI Invest Asset Management acquired a new position in shares of Bank of America during the 4th quarter valued at $60,679,000. Arizona State Retirement System increased its stake in Bank of America by 0.5% in the fourth quarter. Arizona State Retirement System now owns 2,028,439 shares of the financial services provider’s stock valued at $89,150,000 after purchasing an additional 10,377 shares in the last quarter. Accent Capital Management LLC raised its holdings in shares of Bank of America by 43.0% during the third quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider’s stock valued at $1,567,000 after purchasing an additional 11,873 shares during the period. Keybank National Association OH boosted its position in shares of Bank of America by 1.1% during the 4th quarter. Keybank National Association OH now owns 3,458,616 shares of the financial services provider’s stock worth $152,006,000 after purchasing an additional 38,258 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Bank of America by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock worth $5,546,871,000 after purchasing an additional 1,700,141 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Trading Down 0.2 %

NYSE BAC opened at $41.39 on Monday. The stock has a market capitalization of $314.72 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.21 and a beta of 1.32. The business’s fifty day moving average is $45.61 and its 200-day moving average is $43.75. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. Bank of America Co. has a one year low of $34.15 and a one year high of $48.08.

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

Bank of America Announces Dividend

The company also recently disclosed 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 yield of 2.51%. Bank of America’s payout ratio is 32.30%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Robert W. Baird raised Bank of America from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $45.00 to $50.00 in a research note on Friday. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Oppenheimer increased their target price on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Baird R W raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Friday. Finally, Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and an average target price of $48.64.

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.