Matrix Asset Advisors Inc. NY boosted its position in shares of Bank of America Co. (NYSE:BAC - Free Report) by 912.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,801 shares of the financial services provider's stock after purchasing an additional 57,500 shares during the quarter. Matrix Asset Advisors Inc. NY's holdings in Bank of America were worth $2,804,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Accent Capital Management LLC raised its holdings in shares of Bank of America by 43.0% in the third quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider's stock valued at $1,567,000 after acquiring an additional 11,873 shares in the last quarter. Summit Global Investments increased its position in Bank of America by 237.6% during the 3rd quarter. Summit Global Investments now owns 51,278 shares of the financial services provider's stock valued at $2,035,000 after purchasing an additional 36,089 shares during the period. Geode Capital Management LLC raised its holdings in shares of Bank of America by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider's stock valued at $5,546,871,000 after purchasing an additional 1,700,141 shares in the last quarter. Baker Avenue Asset Management LP lifted its position in shares of Bank of America by 125.8% in the 3rd quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider's stock worth $2,421,000 after purchasing an additional 33,983 shares during the period. Finally, Clarendon Private LLC bought a new position in shares of Bank of America during the fourth quarter valued at approximately $798,000. 70.71% of the stock is owned by institutional investors.
Bank of America Stock Performance
Shares of NYSE:BAC traded down $0.21 during midday trading on Tuesday, reaching $46.88. The company's stock had a trading volume of 27,152,898 shares, compared to its average volume of 38,480,281. The firm has a market capitalization of $359.70 billion, a PE ratio of 14.56, a P/E/G ratio of 1.24 and a beta of 1.33. The stock has a fifty day moving average of $45.82 and a 200 day moving average of $42.67. Bank of America Co. has a twelve month low of $32.35 and a twelve month high of $48.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04.
Bank of America (NYSE:BAC - Get Free Report) last released its quarterly earnings data 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. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same quarter last year, the business posted $0.70 EPS. The company's revenue was up 15.0% on a year-over-year basis. On average, equities analysts expect that Bank of America Co. will post 3.67 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of analysts have weighed in on the company. Evercore ISI lowered 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, January 17th. Citigroup raised Bank of America from a "neutral" rating to a "buy" rating and raised their price objective for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Hsbc Global Res raised shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 7th. Oppenheimer lifted 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 report on Friday, January 17th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Bank of America from $50.00 to $57.00 and gave the company an "outperform" rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $48.58.
Read Our Latest Research Report on BAC
Bank of America Company Profile
(
Free Report)
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.
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