Bank of America Corp (BAC) is Odey Stake AG’s Largest Holding

Bank of America Corp (BAC) is Odey Stake AG’s Largest Holding

Odey Holdings AG lowered its position in shares of Bank of America Corp (NYSE:BAC) by 50.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,370 shares of the financial services provider’s stock after selling 7,630 shares during the period. Bank of America Corp comprises 10.6% of Odey Holdings AG’s investment portfolio, making the stock its largest position. Odey Holdings AG’s holdings in Bank of America Corp were worth $163,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BAC. BlackRock Institutional Trust Company N.A. raised its position in Bank of America Corp by 1.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 271,120,278 shares of the financial services provider’s stock worth $4,243,032,000 after buying an additional 4,386,446 shares during the period. BlackRock Fund Advisors raised its position in Bank of America Corp by 4.9% in the third quarter. BlackRock Fund Advisors now owns 123,637,282 shares of the financial services provider’s stock worth $1,934,923,000 after buying an additional 5,817,572 shares during the period. BlackRock Group LTD raised its position in Bank of America Corp by 3.8% in the third quarter. BlackRock Group LTD now owns 91,336,967 shares of the financial services provider’s stock worth $1,429,425,000 after buying an additional 3,318,508 shares during the period. BlackRock Advisors LLC raised its position in Bank of America Corp by 10.4% in the third quarter. BlackRock Advisors LLC now owns 82,996,128 shares of the financial services provider’s stock worth $1,298,889,000 after buying an additional 7,823,538 shares during the period. Finally, Korea Investment CORP raised its position in Bank of America Corp by 1.4% in the third quarter. Korea Investment CORP now owns 77,932,525 shares of the financial services provider’s stock worth $1,219,644,000 after buying an additional 1,110,544 shares during the period. Hedge funds and other institutional investors own 63.95% of the company’s stock.

Bank of America Corp (NYSE:BAC) opened at 23.48 on Wednesday. The company has a market capitalization of $246.93 billion, a P/E ratio of 15.68 and a beta of 1.47. Bank of America Corp has a 1-year low of $12.05 and a 1-year high of $25.80. The company has a 50-day moving average of $24.34 and a 200-day moving average of $20.78.

Bank of America Corp (NYSE:BAC) last issued its quarterly earnings data on Friday, January 13th. The financial services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Bank of America Corp had a net margin of 18.10% and a return on equity of 6.85%. The business earned $20 billion during the quarter. During the same period in the previous year, the business earned $0.27 earnings per share. The business’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts expect that Bank of America Corp will post $1.74 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 3rd will be paid a $0.075 dividend. The ex-dividend date is Wednesday, March 1st. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.28%. Bank of America Corp’s payout ratio is currently 21.74%.

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $23.00 target price on shares of Bank of America Corp in a research report on Wednesday, January 11th. Vetr upgraded shares of Bank of America Corp from a “hold” rating to a “buy” rating and set a $26.48 target price for the company in a research report on Tuesday, March 14th. Sanford C. Bernstein reiterated a “buy” rating and issued a $17.00 target price on shares of Bank of America Corp in a research report on Wednesday, January 11th. Goldman Sachs Group Inc reiterated a “conviction-buy” rating and issued a $27.00 target price on shares of Bank of America Corp in a research report on Tuesday, January 17th. Finally, Guggenheim reiterated a “hold” rating and issued a $22.00 target price on shares of Bank of America Corp in a research report on Wednesday, January 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $21.75.

About Bank of America Corp

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.

Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Corp (NYSE:BAC).

Related posts

Leave a Comment