Bank of America Co. (NYSE:BAC) Shares Acquired by Diversify Wealth Management LLC

Diversify Wealth Management LLC boosted its holdings in Bank of America Co. (NYSE:BAC - Free Report) by 41.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 77,379 shares of the financial services provider's stock after acquiring an additional 22,511 shares during the quarter. Diversify Wealth Management LLC's holdings in Bank of America were worth $3,491,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Gilman Hill Asset Management LLC lifted its stake in shares of Bank of America by 225.7% in the fourth quarter. Gilman Hill Asset Management LLC now owns 33,534 shares of the financial services provider's stock valued at $1,474,000 after purchasing an additional 23,237 shares during the period. Ellsworth Advisors LLC boosted its stake in shares of Bank of America by 8.6% during the 4th quarter. Ellsworth Advisors LLC now owns 47,546 shares of the financial services provider's stock worth $2,090,000 after acquiring an additional 3,745 shares in the last quarter. Annex Advisory Services LLC grew its holdings in shares of Bank of America by 4.7% in the 4th quarter. Annex Advisory Services LLC now owns 8,267 shares of the financial services provider's stock worth $363,000 after acquiring an additional 372 shares during the period. Mandatum Life Insurance Co Ltd increased its stake in Bank of America by 0.6% in the 4th quarter. Mandatum Life Insurance Co Ltd now owns 128,910 shares of the financial services provider's stock valued at $5,666,000 after purchasing an additional 800 shares in the last quarter. Finally, Cascade Investment Group Inc. raised its holdings in Bank of America by 5.8% during the fourth quarter. Cascade Investment Group Inc. now owns 8,443 shares of the financial services provider's stock worth $371,000 after purchasing an additional 466 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Phillip Securities upgraded Bank of America from a "neutral" rating to an "accumulate" rating and set a $44.00 price target for the company in a research report on Friday, October 18th. UBS Group upgraded shares of Bank of America from a "neutral" rating to a "buy" rating and raised their target price for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Piper Sandler reduced their price target on shares of Bank of America from $50.00 to $49.00 and set a "neutral" rating on the stock in a report on Friday. Oppenheimer raised their price objective on shares of Bank of America from $54.00 to $55.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $46.00 target price on shares of Bank of America in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $48.58.

Bank of America Trading Down 0.2 %

NYSE:BAC traded down $0.10 during trading hours on Monday, 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 52-week low of $31.40 and a 52-week high of $48.08. The stock has a 50 day simple moving average of $45.79 and a 200 day simple moving average of $42.44. The firm has a market cap of $357.13 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 1.23 and a beta of 1.33. 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 issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.05. The firm had revenue of $25.30 billion for the quarter, compared to analysts' expectations of $25.12 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The firm's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 earnings per share. As a group, analysts predict that Bank of America Co. will post 3.24 EPS for the current year.

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.