Bank of America Co. (NYSE:BAC) Shares Bought by HB Wealth Management LLC

HB Wealth Management LLC grew its stake in shares of Bank of America Co. (NYSE:BAC - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 290,470 shares of the financial services provider's stock after acquiring an additional 10,479 shares during the quarter. HB Wealth Management LLC's holdings in Bank of America were worth $12,766,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of BAC. Kennebec Savings Bank acquired a new stake in Bank of America during the third quarter worth about $29,000. Highline Wealth Partners LLC increased its position in Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider's stock worth $37,000 after purchasing an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc increased its position in Bank of America by 525.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider's stock worth $40,000 after purchasing an additional 852 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Bank of America in the fourth quarter valued at approximately $42,000. Finally, Northwest Investment Counselors LLC acquired a new position in Bank of America during the third quarter valued at approximately $45,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Stock Performance

BAC stock traded down $0.10 during trading on Friday, hitting $46.54. 44,307,437 shares of the company's stock traded hands, compared to its average volume of 26,125,426. The stock has a fifty day moving average price of $45.79 and a two-hundred day moving average price of $42.42. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. Bank of America Co. has a 52 week low of $31.40 and a 52 week high of $48.08. The stock has a market capitalization 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.

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 EPS for the quarter, topping analysts' consensus estimates of $0.77 by $0.05. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same period in the prior year, the business earned $0.70 EPS. The firm's revenue was up 15.0% on a year-over-year basis. As a group, equities analysts anticipate that Bank of America Co. will post 3.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Piper Sandler cut their target price on shares of Bank of America from $50.00 to $49.00 and set a "neutral" rating on the stock in a research note on Friday. Oppenheimer increased their target price on Bank of America from $54.00 to $55.00 and gave the company an "outperform" rating in a research note on Friday. Evercore ISI decreased their price target on Bank of America from $53.00 to $51.00 and set an "outperform" rating for the company in a report on Friday. Morgan Stanley lifted their price objective on shares of Bank of America from $54.00 to $56.00 and gave the company an "equal weight" rating in a research note on Friday. Finally, Barclays upped their target price on shares of Bank of America from $53.00 to $58.00 and gave the company an "overweight" rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.