Bank of America Co. (NYSE:BAC) Shares Purchased by Community Bank of Raymore

Community Bank of Raymore grew its holdings in shares of Bank of America Co. (NYSE:BAC - Free Report) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 136,160 shares of the financial services provider's stock after purchasing an additional 5,967 shares during the period. Bank of America comprises about 4.7% of Community Bank of Raymore's portfolio, making the stock its 4th biggest position. Community Bank of Raymore's holdings in Bank of America were worth $5,984,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC grew its position in shares of Bank of America by 1.2% during the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider's stock worth $5,546,871,000 after buying an additional 1,700,141 shares in the last quarter. Legal & General Group Plc grew its holdings in Bank of America by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 57,539,506 shares of the financial services provider's stock worth $2,288,347,000 after acquiring an additional 895,884 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Bank of America by 4.0% during the 3rd quarter. Fisher Asset Management LLC now owns 45,215,832 shares of the financial services provider's stock worth $1,794,164,000 after acquiring an additional 1,731,003 shares in the last quarter. Sanders Capital LLC raised its holdings in shares of Bank of America by 2.8% in the 3rd quarter. Sanders Capital LLC now owns 22,341,213 shares of the financial services provider's stock valued at $886,499,000 after purchasing an additional 601,211 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its holdings in shares of Bank of America by 0.4% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 17,042,952 shares of the financial services provider's stock valued at $676,264,000 after purchasing an additional 59,853 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Bank of America Stock Performance

Shares of NYSE BAC traded down $0.10 during mid-day trading on Monday, hitting $46.54. 44,307,437 shares of the company were exchanged, compared to its average volume of 26,125,426. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. The firm has a market cap of $357.13 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. The stock has a 50 day simple moving average of $45.79 and a 200-day simple moving average of $42.44. Bank of America Co. has a 1-year low of $31.40 and a 1-year high of $48.08.

Bank of America (NYSE:BAC - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. The business had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The business's quarterly 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 earnings per share. On average, sell-side analysts forecast that Bank of America Co. will post 3.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BAC. Citigroup upgraded Bank of America from a "neutral" rating to a "buy" rating and raised their price target for the company from $46.00 to $54.00 in a research note on Friday, November 8th. Hsbc Global Res upgraded Bank of America from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. Truist Financial increased their price target on shares of Bank of America from $52.00 to $53.00 and gave the company a "buy" rating in a research note on Friday. Wells Fargo & Company boosted their price objective on shares of Bank of America from $52.00 to $56.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Finally, UBS Group raised shares of Bank of America from a "neutral" rating to a "buy" rating and increased their target price for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $48.58.

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.