VCI Wealth Management LLC Purchases 6,918 Shares of Bank of America Co. (NYSE:BAC)

VCI Wealth Management LLC increased its stake in Bank of America Co. (NYSE:BAC - Free Report) by 22.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,019 shares of the financial services provider's stock after purchasing an additional 6,918 shares during the quarter. VCI Wealth Management LLC's holdings in Bank of America were worth $1,671,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Matrix Asset Advisors Inc. NY grew its stake in shares of Bank of America by 912.6% during the 4th quarter. Matrix Asset Advisors Inc. NY now owns 63,801 shares of the financial services provider's stock valued at $2,804,000 after purchasing an additional 57,500 shares during the period. Griffin Asset Management Inc. grew its position in Bank of America by 5.4% during the fourth quarter. Griffin Asset Management Inc. now owns 343,197 shares of the financial services provider's stock valued at $15,084,000 after buying an additional 17,579 shares during the period. YHB Investment Advisors Inc. increased its holdings in Bank of America by 32.0% during the fourth quarter. YHB Investment Advisors Inc. now owns 20,285 shares of the financial services provider's stock valued at $892,000 after buying an additional 4,921 shares during the last quarter. Buffington Mohr McNeal raised its position in Bank of America by 1.1% in the fourth quarter. Buffington Mohr McNeal now owns 197,468 shares of the financial services provider's stock worth $8,679,000 after acquiring an additional 2,229 shares during the period. Finally, Nilsine Partners LLC boosted its stake in shares of Bank of America by 15.1% during the 4th quarter. Nilsine Partners LLC now owns 31,741 shares of the financial services provider's stock worth $1,395,000 after acquiring an additional 4,166 shares during the last quarter. Institutional investors own 70.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BAC. Hsbc Global Res raised Bank of America from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 7th. Citigroup upgraded Bank of America from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $46.00 to $54.00 in a research note on Friday, November 8th. Keefe, Bruyette & Woods raised their target price on shares of Bank of America from $50.00 to $57.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. Oppenheimer raised their price objective on shares of Bank of America from $54.00 to $55.00 and gave the company an "outperform" rating in a research report on Friday, January 17th. Finally, Evercore ISI dropped their target price 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $48.58.

Bank of America Trading Down 0.4 %

Shares of NYSE BAC traded down $0.21 during trading hours on Tuesday, hitting $46.88. 27,153,539 shares of the company traded hands, compared to its average volume of 38,480,762. The company's 50 day moving average price is $45.82 and its 200 day moving average price is $42.67. Bank of America Co. has a 12 month low of $32.35 and a 12 month high of $48.08. The stock 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 current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC - Get Free Report) last posted 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. The business had revenue of $25.30 billion for 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 business's revenue was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 earnings per share. On average, equities research analysts anticipate that Bank of America Co. will post 3.67 earnings per share 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.