Bank of America Co. (NYSE:BAC) Shares Acquired by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH boosted its stake in Bank of America Co. (NYSE:BAC) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,952,148 shares of the financial services provider’s stock after buying an additional 125,317 shares during the period. Bank of America accounts for approximately 1.6% of Fort Washington Investment Advisors Inc. OH’s investment portfolio, making the stock its 9th largest holding. Fort Washington Investment Advisors Inc. OH owned 0.08% of Bank of America worth $261,597,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in BAC. Kennebec Savings Bank acquired a new position in shares of Bank of America during the third quarter valued at $29,000. Highline Wealth Partners LLC grew its position in Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after buying an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc increased its stake in Bank of America by 525.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after buying an additional 852 shares during the period. Retirement Wealth Solutions LLC acquired a new position in Bank of America during the 4th quarter valued at about $42,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Bank of America in the 3rd quarter worth approximately $45,000. 70.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BAC shares. Oppenheimer boosted their target price on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 price objective on shares of Bank of America in a research note on Wednesday, October 9th. Barclays raised their target price on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Finally, Evercore ISI reduced their price objective on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Up 0.3 %

NYSE:BAC opened at $46.65 on Wednesday. Bank of America Co. has a 1-year low of $32.32 and a 1-year high of $48.08. The firm has a market capitalization of $357.92 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 1.27 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. The business’s fifty day moving average price is $45.80 and its 200 day moving average price is $42.48.

Bank of America (NYSE:BAC) last issued its earnings results 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 company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. During the same quarter in the prior year, the company earned $0.70 EPS. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. On average, sell-side analysts forecast that Bank of America Co. will post 3.67 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.