Chemistry Wealth Management LLC Sells 7,861 Shares of Bank of America Co. (NYSE:BAC)

Chemistry Wealth Management LLC cut its holdings in shares of Bank of America Co. (NYSE:BAC - Free Report) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,019 shares of the financial services provider's stock after selling 7,861 shares during the quarter. Bank of America comprises 1.0% of Chemistry Wealth Management LLC's investment portfolio, making the stock its 20th largest holding. Chemistry Wealth Management LLC's holdings in Bank of America were worth $4,176,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Two Sigma Advisers LP raised its stake in shares of Bank of America by 31,021.6% in the third quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider's stock valued at $405,049,000 after purchasing an additional 10,175,100 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in Bank of America by 1,432.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 6,151,042 shares of the financial services provider's stock valued at $244,627,000 after buying an additional 5,749,567 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of 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 in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Bank of America by 3,550.7% during the 3rd quarter. International Assets Investment Management LLC now owns 4,547,788 shares of the financial services provider's stock worth $1,804,560,000 after acquiring an additional 4,423,215 shares during the period. Finally, D1 Capital Partners L.P. acquired a new stake in shares of Bank of America during the 3rd quarter valued at about $174,858,000. 70.71% of the stock is owned by institutional investors.

Bank of America Trading Down 0.2 %

Shares of Bank of America stock traded down $0.10 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. Bank of America Co. has a one year low of $31.40 and a one year high of $48.08. 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 stock has a market capitalization of $357.13 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. The firm's 50-day moving average price is $45.79 and its two-hundred day moving average price is $42.42.

Bank of America (NYSE:BAC - Get Free Report) last released 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 firm had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The company's quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 earnings per share. On average, research analysts expect that Bank of America Co. will post 3.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BAC has been the subject of a number of analyst reports. StockNews.com upgraded shares of Bank of America from a "sell" rating to a "hold" rating in a research note on Wednesday, October 16th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $46.00 price target on shares of Bank of America in a research note on Wednesday, October 9th. Citigroup upgraded Bank of America from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $46.00 to $54.00 in a research note on Friday, November 8th. Phillip Securities upgraded shares of Bank of America from a "neutral" rating to an "accumulate" rating and set a $44.00 target price on the stock in a research note on Friday, October 18th. Finally, Evercore ISI dropped their target price 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. 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $48.58.

Bank of America 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.