Bank of America Co. (NYSE:BAC) Shares Sold by Prairiewood Capital LLC

Prairiewood Capital LLC lessened its position in shares of Bank of America Co. (NYSE:BAC - Free Report) by 16.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,716 shares of the financial services provider's stock after selling 6,617 shares during the quarter. Bank of America comprises 0.7% of Prairiewood Capital LLC's investment portfolio, making the stock its 29th biggest holding. Prairiewood Capital LLC's holdings in Bank of America were worth $1,526,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Edgestream Partners L.P. purchased a new stake in shares of Bank of America during the second quarter worth approximately $257,000. Pacer Advisors Inc. raised its position in Bank of America by 2.7% during the 2nd quarter. Pacer Advisors Inc. now owns 484,549 shares of the financial services provider's stock worth $19,271,000 after buying an additional 12,611 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Bank of America by 186.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 66,881 shares of the financial services provider's stock worth $2,660,000 after acquiring an additional 43,552 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Bank of America by 2.6% in the second quarter. ProShare Advisors LLC now owns 1,412,331 shares of the financial services provider's stock valued at $56,168,000 after acquiring an additional 35,450 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC raised its holdings in Bank of America by 20.7% during the second quarter. Mount Yale Investment Advisors LLC now owns 7,557 shares of the financial services provider's stock worth $301,000 after purchasing an additional 1,297 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on BAC shares. Keefe, Bruyette & Woods boosted their target price on Bank of America from $50.00 to $57.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. Evercore ISI decreased their target price on shares of Bank of America from $53.00 to $51.00 and set an "outperform" rating on the stock in a research report on Friday. Oppenheimer increased their price target on shares of Bank of America from $54.00 to $55.00 and gave the company an "outperform" rating in a report on Friday. HSBC raised shares of Bank of America from a "hold" rating to a "buy" rating and set a $50.00 price objective on the stock in a report on Tuesday, January 7th. Finally, Phillip Securities upgraded shares of 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the 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 Trading Up 0.3 %

BAC stock traded up $0.12 during trading on Tuesday, reaching $46.65. 50,081,048 shares of the stock traded hands, compared to its average volume of 40,039,090. The firm has a market capitalization of $357.92 billion, a PE ratio of 14.49, a P/E/G ratio of 1.27 and a beta of 1.33. Bank of America Co. has a 52-week low of $32.32 and a 52-week high of $48.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The business's 50 day moving average price is $45.80 and its 200-day moving average price is $42.48.

Bank of America (NYSE:BAC - Get Free Report) last announced 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. The firm had revenue of $25.30 billion during the quarter, compared to analysts' expectations of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm's revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.70 EPS. As a group, sell-side analysts forecast that Bank of America Co. will post 3.67 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.