Capital Investment Advisors LLC lowered its holdings in Bank of America Corp (NYSE:BAC) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 475,951 shares of the financial services provider’s stock after selling 7,427 shares during the period. Capital Investment Advisors LLC’s holdings in Bank of America were worth $16,763,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Nvwm LLC grew its holdings in shares of Bank of America by 0.9% during the 3rd quarter. Nvwm LLC now owns 34,592 shares of the financial services provider’s stock valued at $1,009,000 after purchasing an additional 321 shares during the last quarter. Signature Estate & Investment Advisors LLC grew its position in Bank of America by 4.7% during the third quarter. Signature Estate & Investment Advisors LLC now owns 7,325 shares of the financial services provider’s stock valued at $214,000 after buying an additional 326 shares during the period. FTB Advisors Inc. boosted its position in Bank of America by 0.4% during the fourth quarter. FTB Advisors Inc. now owns 83,419 shares of the financial services provider’s stock worth $2,937,000 after purchasing an additional 329 shares during the period. Enterprise Trust & Investment Co lifted its holdings in shares of Bank of America by 1.9% in the fourth quarter. Enterprise Trust & Investment Co now owns 18,778 shares of the financial services provider’s stock worth $661,000 after buying an additional 349 shares in the last quarter. Finally, Wendell David Associates Inc. raised its stake in Bank of America by 1.5% in the third quarter. Wendell David Associates Inc. now owns 24,452 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 350 shares in the last quarter. 69.21% of the stock is owned by institutional investors and hedge funds.
Several research firms recently weighed in on BAC. Credit Suisse Group lifted their price target on shares of Bank of America from $38.00 to $39.00 and gave the company an “outperform” rating in a report on Thursday, January 16th. Morgan Stanley restated a “buy” rating and set a $38.00 price target (up from $35.00) on shares of Bank of America in a research note on Monday, November 18th. DA Davidson started coverage on Bank of America in a report on Wednesday, January 8th. They issued a “neutral” rating and a $36.00 price target on the stock. Argus reaffirmed a “buy” rating and set a $39.00 price objective (up from $35.00) on shares of Bank of America in a report on Wednesday, January 15th. Finally, Citigroup upped their price objective on Bank of America from $29.00 to $37.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $34.99.
NYSE BAC opened at $34.71 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 1.00. The stock has a market cap of $312.22 billion, a P/E ratio of 12.67, a PEG ratio of 1.27 and a beta of 1.64. Bank of America Corp has a twelve month low of $26.21 and a twelve month high of $35.72. The company’s 50-day simple moving average is $34.65 and its 200 day simple moving average is $31.02.
Bank of America (NYSE:BAC) last issued its quarterly earnings data on Wednesday, January 15th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The business had revenue of $22.30 billion for the quarter, compared to analyst estimates of $22.30 billion. Bank of America had a net margin of 24.15% and a return on equity of 11.95%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period last year, the business posted $0.70 earnings per share. Research analysts anticipate that Bank of America Corp will post 3.05 earnings per share for the current year.
In other news, Director Frank P. Bramble sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $31.33, for a total transaction of $203,645.00. Following the completion of the sale, the director now owns 50,000 shares in the company, valued at approximately $1,566,500. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.17% of the company’s stock.
Bank of America Company 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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.
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