Achmea Investment Management B.V. Has $14.18 Million Stake in Bank of America Corp (BAC)

Achmea Investment Management B.V. grew its stake in Bank of America Corp (NYSE:BAC) by 66.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 584,604 shares of the financial services provider’s stock after buying an additional 233,753 shares during the quarter. Bank of America accounts for about 0.9% of Achmea Investment Management B.V.’s portfolio, making the stock its 21st largest holding. Achmea Investment Management B.V.’s holdings in Bank of America were worth $14,179,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Gateway Advisory LLC increased its stake in shares of Bank of America by 0.4% in the 2nd quarter. Gateway Advisory LLC now owns 10,053 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 45 shares in the last quarter. Arbor Investment Advisors LLC increased its stake in shares of Bank of America by 0.3% in the 2nd quarter. Arbor Investment Advisors LLC now owns 14,328 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 46 shares in the last quarter. Lbmc Investment Advisors LLC increased its stake in shares of Bank of America by 0.3% in the 2nd quarter. Lbmc Investment Advisors LLC now owns 16,851 shares of the financial services provider’s stock valued at $409,000 after purchasing an additional 51 shares in the last quarter. TCI Wealth Advisors Inc. increased its stake in shares of Bank of America by 0.4% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 14,402 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 54 shares in the last quarter. Finally, Altavista Wealth Management Inc. increased its stake in shares of Bank of America by 0.7% in the 2nd quarter. Altavista Wealth Management Inc. now owns 10,199 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 68 shares in the last quarter. 68.56% of the stock is owned by institutional investors and hedge funds.

Shares of Bank of America Corp (BAC) opened at $29.04 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $299,775.75, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 1.99 and a beta of 1.31. Bank of America Corp has a 52 week low of $21.77 and a 52 week high of $29.50.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Friday, October 13th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.02. The business had revenue of $22.08 billion during the quarter, compared to analyst estimates of $22.07 billion. Bank of America had a return on equity of 8.33% and a net margin of 20.66%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share. equities analysts anticipate that Bank of America Corp will post 1.8 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be given a $0.12 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.65%. Bank of America’s dividend payout ratio (DPR) is presently 27.43%.

Bank of America announced that its board has initiated a share repurchase plan on Tuesday, December 5th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

BAC has been the subject of several recent analyst reports. J P Morgan Chase & Co lifted their price target on Bank of America from $27.50 to $28.50 and gave the company an “overweight” rating in a research note on Wednesday, November 1st. Morgan Stanley restated an “overweight” rating and issued a $30.00 price target (up previously from $28.00) on shares of Bank of America in a research note on Thursday, November 30th. Vetr upgraded Bank of America from a “sell” rating to a “strong-buy” rating and set a $33.96 price target for the company in a research note on Tuesday, November 7th. Robert W. Baird restated a “hold” rating and issued a $24.00 price target on shares of Bank of America in a research note on Friday, August 25th. Finally, UBS set a $27.00 price target on Bank of America and gave the company a “hold” rating in a research note on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-four have issued a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $26.55.

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Bank of America Profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S.

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

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