Whitaker Myers Wealth Managers LTD. Invests $389,000 in Bank of America Co. (NYSE:BAC)

Whitaker Myers Wealth Managers LTD. acquired a new stake in Bank of America Co. (NYSE:BAC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,861 shares of the financial services provider's stock, valued at approximately $389,000.

Several other institutional investors and hedge funds have also modified their holdings of BAC. Sandy Cove Advisors LLC increased its stake in shares of Bank of America by 10.4% in the 4th quarter. Sandy Cove Advisors LLC now owns 8,427 shares of the financial services provider's stock valued at $370,000 after purchasing an additional 796 shares in the last quarter. Moss Adams Wealth Advisors LLC increased its stake in shares of Bank of America by 3.4% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 23,854 shares of the financial services provider's stock valued at $1,048,000 after purchasing an additional 776 shares in the last quarter. Riversedge Advisors LLC increased its stake in shares of Bank of America by 4.6% in the 4th quarter. Riversedge Advisors LLC now owns 9,866 shares of the financial services provider's stock valued at $434,000 after purchasing an additional 438 shares in the last quarter. Financial Management Professionals Inc. increased its stake in shares of Bank of America by 7.6% in the 4th quarter. Financial Management Professionals Inc. now owns 11,411 shares of the financial services provider's stock valued at $502,000 after purchasing an additional 805 shares in the last quarter. Finally, TruWealth Advisors LLC increased its stake in shares of Bank of America by 1.7% in the 4th quarter. TruWealth Advisors LLC now owns 24,823 shares of the financial services provider's stock valued at $1,091,000 after purchasing an additional 404 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company's stock.

Wall Street Analyst Weigh In

BAC has been the subject of several recent analyst reports. Morgan Stanley lifted their price target on Bank of America from $54.00 to $56.00 and gave the company an "equal weight" rating in a research note on Friday. Piper Sandler cut their price objective on Bank of America from $50.00 to $49.00 and set a "neutral" rating for the company in a research note on Friday. Oppenheimer boosted their price objective on Bank of America from $54.00 to $55.00 and gave the stock an "outperform" rating in a research note on Friday. StockNews.com upgraded Bank of America from a "sell" rating to a "hold" rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their price objective on Bank of America from $52.00 to $56.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $48.58.

Bank of America Trading Down 0.2 %

BAC traded down $0.10 during trading hours on Friday, reaching $46.54. The company's stock had a trading volume of 44,307,437 shares, compared to its average volume of 26,125,426. 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 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 business's 50-day moving average is $45.79 and its 200-day moving average is $42.43. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80.

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 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.05. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The firm had revenue of $25.30 billion for the quarter, compared to analysts' expectations of $25.12 billion. During the same period in the prior year, the firm posted $0.70 earnings per share. The firm's quarterly revenue was up 15.0% on a year-over-year basis. As a group, equities research analysts predict that Bank of America Co. will post 3.24 earnings per share for the current fiscal 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.