Aster Capital Management DIFC Ltd Has $1.90 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

Aster Capital Management DIFC Ltd trimmed its position in Bank of America Co. (NYSE:BAC) by 42.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 43,193 shares of the financial services provider’s stock after selling 31,517 shares during the period. Bank of America comprises approximately 0.7% of Aster Capital Management DIFC Ltd’s holdings, making the stock its 14th largest holding. Aster Capital Management DIFC Ltd’s holdings in Bank of America were worth $1,898,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Graney & King LLC acquired a new position in Bank of America in the fourth quarter valued at approximately $25,000. Collier Financial bought a new stake in shares of Bank of America during the 4th quarter valued at $25,000. Fairway Wealth LLC bought a new stake in shares of Bank of America during the 4th quarter valued at $29,000. Highline Wealth Partners LLC lifted its stake 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 valued at $37,000 after purchasing an additional 510 shares during the period. Finally, Mascoma Wealth Management LLC boosted its position in shares of Bank of America by 68.2% in the 4th quarter. Mascoma Wealth Management LLC now owns 890 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 361 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BAC has been the subject of a number of recent analyst reports. Baird R W upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Friday, March 7th. JPMorgan Chase & Co. lowered their price target on Bank of America from $49.50 to $43.50 and set an “overweight” rating for the company in a research note on Thursday. Citigroup reduced their price objective on shares of Bank of America from $54.00 to $50.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and upped their target price for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. Finally, Oppenheimer lifted their price target on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Bank of America has a consensus rating of “Moderate Buy” and a consensus price target of $48.31.

Bank of America Price Performance

NYSE BAC opened at $34.37 on Friday. The firm’s 50 day moving average is $43.74 and its 200-day moving average is $43.91. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $261.32 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32. Bank of America Co. has a 12-month low of $33.67 and a 12-month high of $48.08.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same period in the previous year, the business earned $0.70 EPS. The company’s revenue was up 15.0% compared to the same quarter last year. Equities research analysts anticipate that Bank of America Co. will post 3.7 earnings per share for the current fiscal year.

Bank of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were given a dividend of $0.26 per share. The ex-dividend date was Friday, March 7th. This represents a $1.04 annualized dividend and a yield of 3.03%. Bank of America’s dividend payout ratio (DPR) is presently 32.30%.

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.