Kempner Capital Management Inc. Has $6.36 Million Stake in Bank of America Co. (NYSE:BAC)

Kempner Capital Management Inc. lifted its holdings in Bank of America Co. (NYSE:BACGet Rating) by 0.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 154,349 shares of the financial services provider’s stock after acquiring an additional 650 shares during the period. Bank of America accounts for approximately 3.5% of Kempner Capital Management Inc.’s holdings, making the stock its 6th biggest holding. Kempner Capital Management Inc.’s holdings in Bank of America were worth $6,362,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the stock. Norges Bank bought a new position in shares of Bank of America in the 4th quarter valued at about $3,938,246,000. UBS Asset Management Americas Inc. lifted its holdings in shares of Bank of America by 0.8% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 29,530,173 shares of the financial services provider’s stock valued at $1,253,556,000 after acquiring an additional 223,675 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Bank of America by 16.1% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 16,104,424 shares of the financial services provider’s stock valued at $717,144,000 after acquiring an additional 2,232,964 shares during the last quarter. Himalaya Capital Management LLC lifted its holdings in shares of Bank of America by 18.0% in the 4th quarter. Himalaya Capital Management LLC now owns 14,586,987 shares of the financial services provider’s stock valued at $648,975,000 after acquiring an additional 2,228,000 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its holdings in shares of Bank of America by 9.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 11,123,987 shares of the financial services provider’s stock valued at $494,906,000 after acquiring an additional 994,774 shares during the last quarter. 70.46% of the stock is owned by hedge funds and other institutional investors.

Several analysts have issued reports on BAC shares. StockNews.com started coverage on shares of Bank of America in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley raised shares of Bank of America from an “underweight” rating to an “equal weight” rating and decreased their price objective for the stock from $51.00 to $49.00 in a research note on Monday, March 28th. Royal Bank of Canada decreased their price objective on shares of Bank of America from $51.00 to $45.00 in a research note on Tuesday, June 14th. BMO Capital Markets decreased their price objective on shares of Bank of America from $48.00 to $46.00 and set a “market perform” rating for the company in a research note on Tuesday, April 19th. Finally, Robert W. Baird raised shares of Bank of America from an “underperform” rating to a “neutral” rating and set a $42.00 price objective for the company in a research note on Tuesday, March 8th. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and an average price target of $50.10.

Shares of BAC stock opened at $32.55 on Thursday. The firm has a market cap of $262.25 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 1.40 and a beta of 1.38. The company’s 50 day moving average is $35.77 and its 200 day moving average is $41.44. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.16. Bank of America Co. has a 52-week low of $30.86 and a 52-week high of $50.11.

Bank of America (NYSE:BACGet Rating) last announced its earnings results on Monday, April 18th. The financial services provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.04. The company had revenue of $23.20 billion during the quarter, compared to the consensus estimate of $23.09 billion. Bank of America had a net margin of 32.84% and a return on equity of 12.55%. Bank of America’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the firm earned $0.86 earnings per share. Analysts anticipate that Bank of America Co. will post 3.34 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 24th. Shareholders of record on Friday, June 3rd will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $0.84 annualized dividend and a yield of 2.58%. Bank of America’s dividend payout ratio (DPR) is 24.00%.

Bank of America Profile (Get Rating)

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. Its Consumer Banking segment offers traditional and money market savings accounts, certificates of deposit and IRAs, noninterest-and interest-bearing checking accounts, and investment accounts and products; and credit and debit cards, residential mortgages, and home equity loans, as well as direct and indirect loans, such as automotive, recreational vehicle, and consumer personal loans.

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

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