Xponance Inc. Acquires 55,839 Shares of Bank of America Co. (NYSE:BAC)

Xponance Inc. grew its holdings in shares of Bank of America Co. (NYSE:BAC) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 937,428 shares of the financial services provider’s stock after buying an additional 55,839 shares during the period. Xponance Inc.’s holdings in Bank of America were worth $31,563,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Moneta Group Investment Advisors LLC boosted its holdings in shares of Bank of America by 108,111.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 193,168,025 shares of the financial services provider’s stock valued at $6,397,725,000 after buying an additional 192,989,515 shares in the last quarter. Norges Bank purchased a new stake in Bank of America during the 4th quarter valued at about $3,436,543,000. Northern Trust Corp grew its position in Bank of America by 2.1% during the 3rd quarter. Northern Trust Corp now owns 67,648,727 shares of the financial services provider’s stock valued at $1,852,222,000 after purchasing an additional 1,397,469 shares during the last quarter. Barclays PLC grew its position in Bank of America by 97.3% during the 3rd quarter. Barclays PLC now owns 41,290,694 shares of the financial services provider’s stock valued at $1,130,538,000 after purchasing an additional 20,362,295 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Bank of America by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 40,518,019 shares of the financial services provider’s stock valued at $1,109,383,000 after purchasing an additional 746,756 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

NYSE BAC traded up $0.54 on Thursday, reaching $35.77. 43,625,709 shares of the stock were exchanged, compared to its average volume of 41,449,238. Bank of America Co. has a one year low of $24.96 and a one year high of $38.35. The firm has a market capitalization of $282.25 billion, a PE ratio of 12.37, a PEG ratio of 1.58 and a beta of 1.39. The company’s 50-day simple moving average is $35.55 and its two-hundred day simple moving average is $32.21. The company has a current ratio of 0.79, a quick ratio of 0.80 and a debt-to-equity ratio of 1.12.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Bank of America had a net margin of 13.94% and a return on equity of 10.88%. The business had revenue of $25.82 billion during the quarter, compared to analyst estimates of $25.49 billion. During the same period last year, the firm posted $0.94 EPS. The company’s revenue was down 1.7% on a year-over-year basis. Analysts expect that Bank of America Co. will post 3.13 EPS for the current fiscal year.

Bank of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Thursday, February 29th. Bank of America’s dividend payout ratio (DPR) is currently 33.22%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. UBS Group restated a “neutral” rating and set a $40.00 target price (up previously from $39.00) on shares of Bank of America in a research note on Thursday, April 4th. Erste Group Bank upgraded shares of Bank of America from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Oppenheimer lowered their target price on shares of Bank of America from $46.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday. HSBC restated a “hold” rating and set a $39.00 target price (up previously from $38.00) on shares of Bank of America in a research note on Thursday, March 28th. Finally, Odeon Capital Group cut shares of Bank of America from a “buy” rating to a “hold” rating and set a $33.90 price objective on the stock. in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $38.29.

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.