Lincluden Management Ltd. Has $6.75 Million Stock Position in Bank of America Co. (NYSE:BAC)

Lincluden Management Ltd. lowered its position in Bank of America Co. (NYSE:BAC) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 153,633 shares of the financial services provider’s stock after selling 1,074 shares during the period. Bank of America accounts for about 0.8% of Lincluden Management Ltd.’s holdings, making the stock its 27th biggest position. Lincluden Management Ltd.’s holdings in Bank of America were worth $6,752,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BAC. Collier Financial bought a new position in shares of Bank of America in the 4th quarter worth $25,000. Life Planning Partners Inc raised its holdings in Bank of America by 3,883.2% during the fourth quarter. Life Planning Partners Inc now owns 559,995 shares of the financial services provider’s stock worth $25,000 after buying an additional 545,936 shares during the last quarter. Kennebec Savings Bank bought a new position in shares of Bank of America in the third quarter valued at $29,000. Highline Wealth Partners LLC grew its holdings in shares of Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after buying an additional 510 shares during the last quarter. Finally, Retirement Wealth Solutions LLC acquired a new stake in shares of Bank of America in the 4th quarter worth about $42,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BAC shares. Wells Fargo & Company lifted their price target on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and lifted their target price for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. Oppenheimer increased their price target on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Morgan Stanley lifted their price objective on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Finally, Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Performance

Shares of BAC opened at $44.48 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $341.25 billion, a PE ratio of 13.81, a PEG ratio of 1.21 and a beta of 1.33. Bank of America Co. has a 1 year low of $33.53 and a 1 year high of $48.08. The stock’s fifty day moving average price is $45.73 and its two-hundred day moving average price is $43.46.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.70 EPS. On average, equities research analysts forecast that Bank of America Co. will post 3.7 EPS for the current year.

Bank of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.04 dividend on an annualized basis and a yield of 2.34%. Bank of America’s dividend payout ratio is 32.30%.

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