Gilman Hill Asset Management LLC Has $1.47 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

Gilman Hill Asset Management LLC lifted its holdings in Bank of America Co. (NYSE:BAC - Free Report) by 225.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,534 shares of the financial services provider's stock after purchasing an additional 23,237 shares during the quarter. Gilman Hill Asset Management LLC's holdings in Bank of America were worth $1,474,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of BAC. Traveka Wealth LLC raised its position in shares of Bank of America by 2.7% during the 4th quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider's stock worth $382,000 after buying an additional 226 shares in the last quarter. Longfellow Investment Management Co. LLC raised its holdings in Bank of America by 0.6% during the third quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider's stock worth $1,484,000 after purchasing an additional 227 shares in the last quarter. Beacon Investment Advisory Services Inc. lifted its position in Bank of America by 1.1% in the third quarter. Beacon Investment Advisory Services Inc. now owns 20,863 shares of the financial services provider's stock worth $828,000 after purchasing an additional 231 shares during the period. Integrity Financial Corp WA lifted its position in Bank of America by 1.6% in the third quarter. Integrity Financial Corp WA now owns 14,875 shares of the financial services provider's stock worth $590,000 after purchasing an additional 240 shares during the period. Finally, Cahill Financial Advisors Inc. boosted its stake in Bank of America by 2.1% during the 3rd quarter. Cahill Financial Advisors Inc. now owns 12,231 shares of the financial services provider's stock valued at $485,000 after purchasing an additional 249 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Stock Down 0.2 %

Shares of BAC traded down $0.10 during midday trading on Monday, reaching $46.54. 44,307,437 shares of the stock were exchanged, compared to its average volume of 26,125,426. The company has a market cap of $357.13 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 1.23 and a beta of 1.33. The firm has a 50 day simple moving average of $45.79 and a 200-day simple moving average of $42.44. Bank of America Co. has a 12-month low of $31.40 and a 12-month high of $48.08. 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 (NYSE:BAC - Get Free Report) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $25.30 billion during the quarter, compared to analysts' expectations of $25.12 billion. During the same period in the previous year, the company earned $0.70 earnings per share. The company's revenue was up 15.0% compared to the same quarter last year. Research analysts forecast that Bank of America Co. will post 3.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BAC. Keefe, Bruyette & Woods upped their price objective on Bank of America from $50.00 to $57.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. Evercore ISI cut their price target on shares of 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 stock an "equal weight" rating in a research note on Friday. Wells Fargo & Company raised their target price on shares of Bank of America from $52.00 to $56.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Finally, Barclays upped their price target on Bank of America from $53.00 to $58.00 and gave the company an "overweight" rating in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $48.58.

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.