LVW Advisors LLC lessened its stake in Bank of America Co. (NYSE:BAC - Free Report) by 16.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,584 shares of the financial services provider's stock after selling 6,266 shares during the period. LVW Advisors LLC's holdings in Bank of America were worth $1,388,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Two Sigma Advisers LP increased its stake in Bank of America by 31,021.6% during the third quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider's stock worth $405,049,000 after acquiring an additional 10,175,100 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of Bank of America by 1,432.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 6,151,042 shares of the financial services provider's stock worth $244,627,000 after purchasing an additional 5,749,567 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Bank of America by 193.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider's stock valued at $301,898,000 after buying an additional 5,015,378 shares during the period. International Assets Investment Management LLC lifted its position in Bank of America by 3,550.7% in the third quarter. International Assets Investment Management LLC now owns 4,547,788 shares of the financial services provider's stock valued at $1,804,560,000 after buying an additional 4,423,215 shares during the last quarter. Finally, D1 Capital Partners L.P. purchased a new position in Bank of America during the third quarter worth about $174,858,000. 70.71% of the stock is owned by hedge funds and other institutional investors.
Bank of America Stock Down 0.2 %
Shares of NYSE:BAC traded down $0.10 during 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 debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. The firm's 50 day moving average price is $45.79 and its 200-day moving average price is $42.44. The stock has a market capitalization of $357.13 billion, a P/E ratio of 16.93, a PEG ratio of 1.23 and a beta of 1.33. Bank of America Co. has a 12-month low of $31.40 and a 12-month high of $48.08.
Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter in the prior year, the firm posted $0.70 earnings per share. Bank of America's revenue for the quarter was up 15.0% on a year-over-year basis. On average, research analysts predict that Bank of America Co. will post 3.24 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
BAC has been the subject of a number of research analyst reports. Evercore ISI lowered their price objective on shares of Bank of America from $53.00 to $51.00 and set an "outperform" rating for the company in a research report on Friday. Phillip Securities raised Bank of America from a "neutral" rating to an "accumulate" rating and set a $44.00 price objective for the company in a research note on Friday, October 18th. Barclays increased their target price on Bank of America from $53.00 to $58.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Citigroup raised Bank of America from a "neutral" rating to a "buy" rating and lifted their target price for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Finally, Truist Financial increased their price target on shares of Bank of America from $52.00 to $53.00 and gave the stock a "buy" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $48.58.
Read Our Latest Stock Report on BAC
Bank of America Profile
(
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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