Integrated Investment Consultants LLC Raises Stock Holdings in Bank of America Co. (NYSE:BAC)

Integrated Investment Consultants LLC lifted its holdings in shares of Bank of America Co. (NYSE:BAC - Free Report) by 96.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 69,462 shares of the financial services provider's stock after purchasing an additional 34,065 shares during the period. Integrated Investment Consultants LLC's holdings in Bank of America were worth $3,053,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in BAC. Traveka Wealth LLC raised its stake in Bank of America by 2.7% in the fourth quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider's stock valued at $382,000 after buying an additional 226 shares in the last quarter. Longfellow Investment Management Co. LLC raised its position in shares of Bank of America by 0.6% during the 3rd quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider's stock worth $1,484,000 after acquiring an additional 227 shares in the last quarter. Beacon Investment Advisory Services Inc. lifted its stake in Bank of America by 1.1% during 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 last quarter. Integrity Financial Corp WA boosted its holdings 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 valued at $590,000 after purchasing an additional 240 shares in the last quarter. Finally, Cahill Financial Advisors Inc. increased its stake in Bank of America by 2.1% in the third 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 during the last quarter. Hedge funds and other institutional investors own 70.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BAC. HSBC upgraded shares of Bank of America from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a report on Tuesday, January 7th. Morgan Stanley lifted their target price on Bank of America from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Friday. Royal Bank of Canada reissued an "outperform" rating and issued a $46.00 target price on shares of Bank of America in a research report on Wednesday, October 9th. StockNews.com raised Bank of America from a "sell" rating to a "hold" rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price objective on Bank of America from $52.00 to $56.00 and gave the company an "overweight" rating in a report on Friday, November 15th. One 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.58.

Bank of America Price Performance

BAC stock traded down $0.10 on Friday, reaching $46.54. 44,307,437 shares of the company's stock were exchanged, compared to its average volume of 26,125,426. Bank of America Co. has a twelve month low of $31.40 and a twelve 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. The stock has a fifty day moving average of $45.76 and a 200-day moving average of $42.37. The firm has a market cap of $357.13 billion, a PE ratio of 16.93, a P/E/G ratio of 1.23 and a beta of 1.33.

Bank of America (NYSE:BAC - Get Free Report) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping 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 business had revenue of $25.30 billion for the quarter, compared to analysts' expectations of $25.12 billion. During the same period in the prior year, the company posted $0.70 EPS. The business's revenue for the quarter was up 15.0% on a year-over-year basis. As a group, equities analysts predict that Bank of America Co. will post 3.24 EPS for the current fiscal 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.