FLC Capital Advisors Has $1.64 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

FLC Capital Advisors lowered its stake in Bank of America Co. (NYSE:BAC) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 37,406 shares of the financial services provider’s stock after selling 506 shares during the quarter. FLC Capital Advisors’ holdings in Bank of America were worth $1,644,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Two Sigma Advisers LP raised its holdings in Bank of America by 31,021.6% in the third quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider’s stock worth $405,049,000 after purchasing an additional 10,175,100 shares during the period. 1832 Asset Management L.P. grew its holdings in shares of Bank of America by 1,432.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 6,151,042 shares of the financial services provider’s stock valued at $244,627,000 after buying an additional 5,749,567 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Bank of America by 193.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider’s stock valued at $301,898,000 after buying an additional 5,015,378 shares in the last quarter. International Assets Investment Management LLC raised its stake in Bank of America by 3,550.7% during the 3rd quarter. International Assets Investment Management LLC now owns 4,547,788 shares of the financial services provider’s stock worth $1,804,560,000 after buying an additional 4,423,215 shares during the period. Finally, D1 Capital Partners L.P. bought a new position in Bank of America during the third quarter worth about $174,858,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Trading Down 0.2 %

Shares of Bank of America stock opened at $46.54 on Monday. The stock has a market cap of $357.13 billion, a P/E ratio of 16.93, a P/E/G ratio of 1.23 and a beta of 1.33. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. Bank of America Co. has a 12-month low of $31.40 and a 12-month high of $48.08. The business’s 50 day moving average is $45.79 and its 200-day moving average is $42.43.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.05. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The firm had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same period in the prior year, the firm posted $0.70 earnings per share. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. Equities research analysts predict that Bank of America Co. will post 3.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BAC has been the subject of several recent analyst reports. Oppenheimer increased their price target on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday. Phillip Securities raised Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price for the company in a research note on Friday, October 18th. Royal Bank of Canada restated an “outperform” rating and set a $46.00 target price on shares of Bank of America in a report on Wednesday, October 9th. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Piper Sandler dropped their price objective on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and an average price target of $48.58.

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.