Nearwater Capital Markets Ltd 出售了 940,102 股美国银行（Bank of America Corporation）的股票，代码为$BAC

Nearwater Capital Markets Ltd reduced its position in shares of Bank of America Corporation (NYSE:BAC) by 49.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 970,000 shares of the financial services provider's stock after selling 940,102 shares during the quarter. Bank of America comprises 1.2% of Nearwater Capital Markets Ltd's holdings, making the stock its 19th biggest position. Nearwater Capital Markets Ltd's holdings in Bank of America were worth $40,478,000 at the end of the most recent quarter.

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Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BAC. Brighton Jones LLC raised its holdings in Bank of America by 30.0% during the 4th quarter. Brighton Jones LLC now owns 108,872 shares of the financial services provider's stock worth $4,785,000 after purchasing an additional 25,143 shares during the last quarter. Bank Pictet & Cie Europe AG increased its stake in shares of Bank of America by 35.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 860,005 shares of the financial services provider's stock valued at $37,797,000 after acquiring an additional 226,246 shares during the last quarter. Algert Global LLC increased its stake in shares of Bank of America by 37.3% in the 4th quarter. Algert Global LLC now owns 20,957 shares of the financial services provider's stock valued at $921,000 after acquiring an additional 5,691 shares during the last quarter. Crestline Management LP bought a new stake in Bank of America during the 4th quarter worth approximately $1,162,000. Finally, Driehaus Capital Management LLC increased its stake in Bank of America by 22.1% during the 4th quarter. Driehaus Capital Management LLC now owns 25,614 shares of the financial services provider's stock worth $1,126,000 after purchasing an additional 4,630 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. TD Cowen began coverage on Bank of America in a research report on Thursday, May 15th. They set a "buy" rating and a $53.00 price target for the company. Truist Financial increased their price target on Bank of America from $51.00 to $53.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Phillip Securities cut Bank of America from a "strong-buy" rating to a "moderate buy" rating in a research note on Friday, July 25th. Baird R W cut Bank of America from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $52.00 price objective on shares of Bank of America in a research report on Friday, June 27th. Sixteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Bank of America presently has an average rating of "Moderate Buy" and an average target price of $50.39.

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Get Our Latest Stock Analysis on BAC

Bank of America Stock Up 1.1%

Shares of NYSE BAC opened at $50.64 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.79 and a current ratio of 0.80. Bank of America Corporation has a 52 week low of $33.06 and a 52 week high of $50.92. The stock has a market capitalization of $375.05 billion, a P/E ratio of 14.81, a PEG ratio of 1.94 and a beta of 1.34. The stock's fifty day moving average is $47.89 and its 200 day moving average is $44.07.

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Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.03. Bank of America had a return on equity of 10.25% and a net margin of 14.81%.The company had revenue of ($22,273.00) million for the quarter, compared to analysts' expectations of $26.79 billion. During the same quarter last year, the business earned $0.83 earnings per share. Bank of America's revenue was up 4.3% on a year-over-year basis. Sell-side analysts forecast that Bank of America Corporation will post 3.7 earnings per share for the current fiscal year.

Bank of America Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 5th will be given a $0.28 dividend. The ex-dividend date is Friday, September 5th. This is an increase from Bank of America's previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.2%. Bank of America's dividend payout ratio (DPR) is 30.41%.

Bank of America announced that its board has authorized a stock repurchase plan on Wednesday, July 23rd that allows the company to repurchase $40.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 11.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Insider Activity at Bank of America

In related news, insider James P. Demare sold 148,391 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $45.57, for a total value of $6,762,177.87. Following the sale, the insider directly owned 223,407 shares of the company's stock, valued at $10,180,656.99. This trade represents a 39.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.30% of the company's stock.

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.

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