Bank of America (BAC) Position Decreased by High Pointe Capital Management LLC

High Pointe Capital Management LLC lowered its stake in shares of Bank of America (NYSE:BAC) by 13.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 76,150 shares of the financial services provider’s stock after selling 12,050 shares during the period. Bank of America makes up approximately 3.1% of High Pointe Capital Management LLC’s investment portfolio, making the stock its largest position. High Pointe Capital Management LLC’s holdings in Bank of America were worth $2,284,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in Bank of America by 5.8% in the 4th quarter. Bank of New York Mellon Corp now owns 104,558,690 shares of the financial services provider’s stock valued at $3,086,572,000 after buying an additional 5,720,403 shares during the period. Fred Alger Management Inc. boosted its position in Bank of America by 56.5% in the 4th quarter. Fred Alger Management Inc. now owns 14,842,612 shares of the financial services provider’s stock valued at $438,154,000 after buying an additional 5,360,724 shares during the period. SG Americas Securities LLC boosted its position in Bank of America by 173.0% in the 4th quarter. SG Americas Securities LLC now owns 1,789,973 shares of the financial services provider’s stock valued at $52,840,000 after buying an additional 4,243,334 shares during the period. Mackenzie Financial Corp boosted its position in Bank of America by 44.1% in the 4th quarter. Mackenzie Financial Corp now owns 12,462,731 shares of the financial services provider’s stock valued at $367,900,000 after buying an additional 3,811,966 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new position in Bank of America in the 3rd quarter valued at approximately $88,757,000. 67.22% of the stock is owned by hedge funds and other institutional investors.

Shares of BAC opened at $30.89 on Wednesday. Bank of America has a twelve month low of $22.07 and a twelve month high of $33.05. The firm has a market capitalization of $312.94 billion, a PE ratio of 16.88, a PEG ratio of 1.50 and a beta of 1.37. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.96.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Monday, April 16th. The financial services provider reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.03. Bank of America had a net margin of 19.65% and a return on equity of 9.40%. The firm had revenue of $23.10 billion for the quarter, compared to analyst estimates of $23.04 billion. During the same period last year, the business earned $0.41 EPS. Bank of America’s revenue for the quarter was up 4.1% compared to the same quarter last year. equities analysts expect that Bank of America will post 2.55 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 1st will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $0.48 annualized dividend and a yield of 1.55%. Bank of America’s dividend payout ratio is currently 26.23%.

Several equities analysts have commented on BAC shares. ValuEngine raised shares of Bank of America from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Morgan Stanley raised their price target on shares of Bank of America from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Vetr cut shares of Bank of America from a “hold” rating to a “sell” rating and set a $28.21 price target for the company. in a research report on Tuesday, February 13th. Zacks Investment Research cut shares of Bank of America from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Finally, Credit Suisse Group raised their price target on shares of Bank of America from $35.00 to $36.00 and gave the company an “outperform” rating in a research report on Friday, March 16th. Nine analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $32.13.

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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.

Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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