Atomi Financial Group Inc. grew its position in Bank of America Co. (NYSE:BAC - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 151,844 shares of the financial services provider's stock after acquiring an additional 7,956 shares during the period. Atomi Financial Group Inc.'s holdings in Bank of America were worth $6,674,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Edgestream Partners L.P. purchased a new stake in Bank of America during the 2nd quarter worth approximately $257,000. Pacer Advisors Inc. lifted its holdings in Bank of America by 2.7% in the 2nd quarter. Pacer Advisors Inc. now owns 484,549 shares of the financial services provider's stock valued at $19,271,000 after purchasing an additional 12,611 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Bank of America by 186.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 66,881 shares of the financial services provider's stock worth $2,660,000 after purchasing an additional 43,552 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of Bank of America by 2.6% during the second quarter. ProShare Advisors LLC now owns 1,412,331 shares of the financial services provider's stock worth $56,168,000 after buying an additional 35,450 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its stake in shares of Bank of America by 20.7% in the second quarter. Mount Yale Investment Advisors LLC now owns 7,557 shares of the financial services provider's stock worth $301,000 after buying an additional 1,297 shares in the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on BAC. Oppenheimer upped their price objective on shares of Bank of America from $54.00 to $55.00 and gave the company an "outperform" rating in a research note on Friday. Piper Sandler cut their price target on Bank of America from $50.00 to $49.00 and set a "neutral" rating for the company in a report on Friday. Hsbc Global Res upgraded Bank of America from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th. Phillip Securities upgraded Bank of America from a "neutral" rating to an "accumulate" rating and set a $44.00 price target on the stock in a report on Friday, October 18th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Bank of America from $50.00 to $57.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $48.58.
View Our Latest Research Report on BAC
Bank of America Stock Up 0.3 %
Shares of BAC traded up $0.12 during midday trading on Tuesday, reaching $46.65. The stock had a trading volume of 50,081,048 shares, compared to its average volume of 40,039,090. The company's fifty day simple moving average is $45.80 and its two-hundred day simple moving average is $42.48. The company has a market cap of $357.92 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 1.27 and a beta of 1.33. Bank of America Co. has a 1-year low of $32.32 and a 1-year high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.
Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. The business had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company's revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.70 EPS. Equities research analysts expect that Bank of America Co. will post 3.67 earnings per share for the current year.
About Bank of America
(
Free Report)
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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