Natixis Has $49.22 Million Stock Position in Bank of America Co. (NYSE:BAC)

Natixis cut its position in shares of Bank of America Co. (NYSE:BAC) by 22.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,119,871 shares of the financial services provider’s stock after selling 333,203 shares during the quarter. Natixis’ holdings in Bank of America were worth $49,218,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Collier Financial bought a new stake in Bank of America in the fourth quarter worth approximately $25,000. Life Planning Partners Inc grew its position in shares of Bank of America by 3,883.2% during the 4th quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after buying an additional 545,936 shares during the period. Graney & King LLC bought a new stake in shares of Bank of America in the 4th quarter valued at $25,000. Fairway Wealth LLC acquired a new position in shares of Bank of America during the 4th quarter valued at $29,000. Finally, Glass Jacobson Investment Advisors llc boosted its stake in Bank of America by 53.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 797 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 276 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BAC shares. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Argus decreased their price target on shares of Bank of America from $53.00 to $47.00 and set a “buy” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. dropped their price objective on shares of Bank of America from $49.50 to $43.50 and set an “overweight” rating on the stock in a research note on Thursday, April 3rd. Piper Sandler decreased their target price on shares of Bank of America from $45.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Bank of America from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and a consensus price target of $47.20.

Bank of America Stock Performance

NYSE BAC opened at $37.44 on Friday. The company has a market capitalization of $284.65 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.21 and a beta of 1.24. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. Bank of America Co. has a 52-week low of $33.07 and a 52-week high of $48.08. The company has a 50-day simple moving average of $41.27 and a 200 day simple moving average of $43.59.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, April 15th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. The company had revenue of $27.37 billion during the quarter, compared to analyst estimates of $26.83 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. On average, research analysts predict that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.04 annualized dividend and a dividend yield of 2.78%. Bank of America’s dividend payout ratio is currently 30.95%.

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.