Aviva PLC Has $184.52 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

Aviva PLC boosted its stake in Bank of America Co. (NYSE:BAC) by 14.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,198,358 shares of the financial services provider’s stock after buying an additional 531,148 shares during the period. Aviva PLC’s holdings in Bank of America were worth $184,518,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in shares of Bank of America by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 142,289,199 shares of the financial services provider’s stock worth $6,243,000,000 after purchasing an additional 2,033,229 shares during the period. Norges Bank acquired a new position in Bank of America in the 4th quarter valued at $5,226,989,000. Bank of New York Mellon Corp increased its position in Bank of America by 4.9% during the 4th quarter. Bank of New York Mellon Corp now owns 59,613,837 shares of the financial services provider’s stock worth $2,620,028,000 after buying an additional 2,806,927 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Bank of America by 3.7% during the fourth quarter. Fisher Asset Management LLC now owns 46,887,442 shares of the financial services provider’s stock worth $2,060,703,000 after buying an additional 1,671,610 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Bank of America by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 42,929,896 shares of the financial services provider’s stock valued at $1,886,769,000 after acquiring an additional 297,858 shares during the period. 70.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on BAC shares. Piper Sandler lowered their price target on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Baird R W upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. Evercore ISI reduced their price target on Bank of America from $51.00 to $48.00 and set an “outperform” rating on the stock in a research report on Tuesday. Citigroup lowered their price objective on 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. Finally, Robert W. Baird raised Bank of America from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $45.00 to $50.00 in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.31.

Bank of America Trading Down 7.7 %

NYSE BAC opened at $34.37 on Friday. Bank of America Co. has a twelve month low of $33.67 and a twelve month high of $48.08. The business’s fifty day moving average is $43.74 and its 200 day moving average is $43.88. 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 cap of $261.32 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32.

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

Bank of America Dividend Announcement

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

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.