MassMutual Private Wealth & Trust FSB Has $30.49 Million Holdings in Bank of America Co. (NYSE:BAC)

MassMutual Private Wealth & Trust FSB reduced its stake in shares of Bank of America Co. (NYSE:BAC - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 693,824 shares of the financial services provider's stock after selling 9,014 shares during the quarter. Bank of America accounts for approximately 0.9% of MassMutual Private Wealth & Trust FSB's holdings, making the stock its 28th largest holding. MassMutual Private Wealth & Trust FSB's holdings in Bank of America were worth $30,494,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Two Sigma Advisers LP boosted its holdings in shares of Bank of America by 31,021.6% during 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 acquiring an additional 10,175,100 shares during the period. 1832 Asset Management L.P. boosted its holdings in shares of Bank of America by 1,432.1% in the second 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 acquiring an additional 5,749,567 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Bank of America by 193.4% during 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 purchasing an additional 5,015,378 shares during the period. International Assets Investment Management LLC grew its holdings in Bank of America by 3,550.7% during the third 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. bought a new stake in shares of Bank of America in the 3rd quarter worth approximately $174,858,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BAC shares. Evercore ISI reduced their target price on Bank of America from $53.00 to $51.00 and set an "outperform" rating for the company in a report on Friday. Phillip Securities upgraded shares of Bank of America from a "neutral" rating to an "accumulate" rating and set a $44.00 price target on the stock in a report on Friday, October 18th. UBS Group upgraded Bank of America from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $43.00 to $53.00 in a report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their target price on Bank of America from $50.00 to $57.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. Finally, Barclays boosted their price objective on shares of Bank of America from $53.00 to $58.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $48.58.

Bank of America Stock Down 0.2 %

Shares of NYSE:BAC traded down $0.10 during midday trading on Monday, reaching $46.54. 44,307,437 shares of the company were exchanged, compared to its average volume of 26,125,426. 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. 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 Co. has a fifty-two week low of $31.40 and a fifty-two week high of $48.08. The stock has a fifty day simple moving average of $45.79 and a two-hundred day simple moving average of $42.44.

Bank of America (NYSE:BAC - Get Free Report) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.05. The company 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 earnings per share. As a group, sell-side analysts forecast that Bank of America Co. will post 3.24 earnings per share for the current year.

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.