Endeavor Private Wealth Inc. Takes Position in Bank of America Co. (NYSE:BAC)

Endeavor Private Wealth Inc. acquired a new position in shares of Bank of America Co. (NYSE:BAC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,988 shares of the financial services provider’s stock, valued at approximately $131,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BAC. Kennebec Savings Bank acquired a new position in shares of Bank of America during the third quarter worth approximately $29,000. Highline Wealth Partners LLC increased its position in Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 510 shares during the period. Christopher J. Hasenberg Inc raised 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 purchasing an additional 852 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in Bank of America in the 4th quarter valued at $42,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Bank of America in the 3rd quarter worth $45,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. Wells Fargo & Company lifted their price objective on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Morgan Stanley upped their target price on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Finally, Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Price Performance

Shares of BAC stock opened at $45.80 on Thursday. Bank of America Co. has a 1 year low of $32.35 and a 1 year high of $48.08. 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 firm’s 50 day moving average is $45.81 and its 200-day moving average is $42.55. The firm has a market capitalization of $351.41 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.27 and a beta of 1.33.

Bank of America (NYSE:BAC) last posted its quarterly earnings data 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. The firm 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%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 EPS. Sell-side analysts forecast that Bank of America Co. will post 3.67 EPS 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.