Griffin Asset Management Inc. grew its stake in shares of Bank of America Co. (NYSE:BAC - Free Report) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 343,197 shares of the financial services provider's stock after purchasing an additional 17,579 shares during the quarter. Bank of America comprises about 1.8% of Griffin Asset Management Inc.'s portfolio, making the stock its 11th biggest holding. Griffin Asset Management Inc.'s holdings in Bank of America were worth $15,084,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Kennebec Savings Bank acquired a new position in shares of Bank of America during the 3rd quarter worth $29,000. Highline Wealth Partners LLC increased 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 acquiring an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc lifted its position in Bank of America by 525.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 852 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Bank of America in the fourth quarter valued at about $42,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Bank of America during the 3rd quarter worth $45,000. Institutional investors own 70.71% of the company's stock.
Bank of America Price Performance
Shares of NYSE:BAC traded down $0.21 during midday trading on Tuesday, hitting $46.88. The stock had a trading volume of 27,148,292 shares, compared to its average volume of 38,473,449. Bank of America Co. has a fifty-two week low of $32.35 and a fifty-two week high of $48.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The company's 50-day moving average price is $45.82 and its 200-day moving average price is $42.67. The company has a market capitalization of $359.70 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33.
Bank of America (NYSE:BAC - Get Free Report) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the prior year, the company earned $0.70 EPS. The firm's revenue for the quarter was up 15.0% compared to the same quarter last year. As a group, equities research analysts predict that Bank of America Co. will post 3.67 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on BAC. Wells Fargo & Company upped their price target on Bank of America from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. UBS Group raised Bank of America from a "neutral" rating to a "buy" rating and boosted their target price for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. Truist Financial lifted 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 report on Friday, January 17th. Keefe, Bruyette & Woods upped their price objective on Bank of America from $50.00 to $57.00 and gave the company an "outperform" rating in a research report on Tuesday, December 3rd. Finally, Oppenheimer upped their price objective 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. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bank of America has an average rating of "Moderate Buy" and an average target price of $48.58.
Check Out Our Latest Stock Analysis on Bank of America
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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