Wynn Capital LLC Purchases Shares of 41,210 Bank of America Co. (NYSE:BAC)

Wynn Capital LLC bought a new position in shares of Bank of America Co. (NYSE:BAC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 41,210 shares of the financial services provider’s stock, valued at approximately $1,388,000. Bank of America comprises about 1.1% of Wynn Capital LLC’s portfolio, making the stock its 27th largest holding.

A number of other hedge funds have also modified their holdings of BAC. Barclays PLC lifted its holdings in Bank of America by 97.3% in the third quarter. Barclays PLC now owns 41,290,694 shares of the financial services provider’s stock valued at $1,130,538,000 after acquiring an additional 20,362,295 shares during the period. Alphinity Investment Management Pty Ltd grew its holdings in Bank of America by 1,071.8% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 14,082,264 shares of the financial services provider’s stock valued at $474,150,000 after buying an additional 12,880,492 shares during the period. Darsana Capital Partners LP purchased a new stake in shares of Bank of America during the 3rd quarter worth about $177,970,000. Canada Pension Plan Investment Board grew its holdings in shares of Bank of America by 143.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 10,659,309 shares of the financial services provider’s stock worth $291,852,000 after purchasing an additional 6,281,690 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in Bank of America during the 3rd quarter worth approximately $168,610,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BAC shares. BMO Capital Markets upped their target price on Bank of America from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Evercore ISI increased their price target on Bank of America from $37.00 to $41.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Citigroup raised their target price on Bank of America from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Keefe, Bruyette & Woods upped their target price on Bank of America from $33.00 to $37.00 and gave the company a “market perform” rating in a report on Friday, April 5th. Finally, Odeon Capital Group downgraded Bank of America from a “buy” rating to a “hold” rating and set a $33.90 target price for the company. in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Bank of America currently has a consensus rating of “Hold” and an average price target of $38.53.

Bank of America Stock Performance

Shares of Bank of America stock traded down $0.05 on Wednesday, hitting $38.32. The stock had a trading volume of 28,655,567 shares, compared to its average volume of 41,609,586. Bank of America Co. has a twelve month low of $24.96 and a twelve month high of $38.49. The business’s 50 day moving average is $35.88 and its two-hundred day moving average is $32.57. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 1.12. The stock has a market cap of $302.37 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 1.70 and a beta of 1.39.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.06. Bank of America had a return on equity of 10.88% and a net margin of 13.94%. The firm had revenue of $25.82 billion for the quarter, compared to analyst estimates of $25.49 billion. During the same quarter last year, the company earned $0.94 EPS. The company’s revenue was down 1.7% on a year-over-year basis. Analysts forecast that Bank of America Co. will post 3.17 EPS for the current year.

Bank of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.51%. Bank of America’s dividend payout ratio (DPR) is presently 33.22%.

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.