Brady Martz Wealth Solutions LLC Purchases New Shares in Bank of America Co. (NYSE:BAC)

Brady Martz Wealth Solutions LLC acquired a new stake in Bank of America Co. (NYSE:BAC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 25,113 shares of the financial services provider's stock, valued at approximately $1,150,000.

Other hedge funds have also added to or reduced their stakes in the company. Delta Capital Management LLC increased its holdings in shares of Bank of America by 0.5% in the fourth quarter. Delta Capital Management LLC now owns 85,650 shares of the financial services provider's stock worth $3,764,000 after acquiring an additional 420 shares in the last quarter. My Legacy Advisors LLC grew its position in shares of Bank of America by 9.2% in the 4th quarter. My Legacy Advisors LLC now owns 11,115 shares of the financial services provider's stock valued at $523,000 after purchasing an additional 940 shares during the period. Maiden Cove Capital LLC raised its holdings in Bank of America by 5.3% during the 4th quarter. Maiden Cove Capital LLC now owns 16,062 shares of the financial services provider's stock worth $706,000 after buying an additional 806 shares during the period. Kelly Financial Services LLC acquired a new position in shares of Bank of America in the fourth quarter valued at approximately $209,000. Finally, Clarius Group LLC increased its position in shares of Bank of America by 2.7% during the fourth quarter. Clarius Group LLC now owns 63,578 shares of the financial services provider's stock worth $2,794,000 after acquiring an additional 1,662 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Phillip Securities raised shares of Bank of America from a "neutral" rating to an "accumulate" rating and set a $44.00 price objective on the stock in a research report on Friday, October 18th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $46.00 price objective on shares of Bank of America in a research report on Wednesday, October 9th. Wells Fargo & Company lifted their target price 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 shares of Bank of America from a "neutral" rating to a "buy" rating and raised their price target for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. Finally, Evercore ISI cut their price objective on shares of Bank of America from $53.00 to $51.00 and set an "outperform" rating on the stock in a research report on Friday. One research 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. According to data from MarketBeat.com, Bank of America has a consensus rating of "Moderate Buy" and a consensus price target of $48.58.

Bank of America Stock Performance

BAC stock traded down $0.10 during midday trading on Friday, reaching $46.54. 44,307,437 shares of the company were exchanged, compared to its average volume of 26,125,426. Bank of America Co. has a one year low of $31.40 and a one year high of $48.08. The firm 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. The business has a 50-day moving average price of $45.79 and a two-hundred day moving average price of $42.43. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80.

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, 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 12.48% and a return on equity of 10.09%. Bank of America's revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 EPS. Equities research analysts forecast that Bank of America Co. will post 3.24 EPS for the current year.

Bank of America Company Profile

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.