Union Bancaire Privee UBP SA Makes New Investment in Bank of America Co. (NYSE:BAC)

Union Bancaire Privee UBP SA purchased a new stake in Bank of America Co. (NYSE:BAC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 66,334 shares of the financial services provider's stock, valued at approximately $2,874,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC raised its stake in 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 worth $5,546,871,000 after acquiring an additional 1,700,141 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Bank of America by 4.0% in the third quarter. Fisher Asset Management LLC now owns 45,215,832 shares of the financial services provider's stock valued at $1,794,164,000 after purchasing an additional 1,731,003 shares during the period. Sanders Capital LLC lifted its position in shares of Bank of America by 2.8% in the third quarter. Sanders Capital LLC now owns 22,341,213 shares of the financial services provider's stock valued at $886,499,000 after acquiring an additional 601,211 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of Bank of America by 0.4% during the third quarter. Diamond Hill Capital Management Inc. now owns 17,042,952 shares of the financial services provider's stock worth $676,264,000 after buying an additional 59,853 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of Bank of America by 23.6% during the 2nd quarter. Clearbridge Investments LLC now owns 16,260,822 shares of the financial services provider's stock worth $646,693,000 after purchasing an additional 3,109,197 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Stock Performance

BAC traded down $0.21 during trading on Tuesday, reaching $46.88. The company's stock had a trading volume of 27,153,539 shares, compared to its average volume of 38,480,762. The company's fifty day moving average price is $45.82 and its 200-day moving average price is $42.67. Bank of America Co. has a 52-week low of $32.35 and a 52-week high of $48.08. The company has a market capitalization of $359.70 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78.

Bank of America (NYSE:BAC - Get Free Report) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate 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 net margin of 14.10% and a return on equity of 10.29%. The firm's revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 earnings per share. On average, equities analysts forecast that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Hsbc Global Res raised shares of Bank of America from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 7th. Morgan Stanley boosted their price target 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, January 17th. Piper Sandler reduced their price objective on Bank of America from $50.00 to $49.00 and set a "neutral" rating on the stock in a research note on Friday, January 17th. Evercore ISI lowered 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, January 17th. Finally, HSBC raised Bank of America from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $48.58.

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.