Essex Savings Bank Has $455,000 Stock Position in Bank of America Co. (NYSE:BAC)

Essex Savings Bank boosted its stake in shares of Bank of America Co. (NYSE:BAC) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,359 shares of the financial services provider’s stock after purchasing an additional 262 shares during the quarter. Essex Savings Bank’s holdings in Bank of America were worth $455,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of BAC. Traveka Wealth LLC raised its stake in Bank of America by 2.7% in the fourth quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 226 shares in the last quarter. Longfellow Investment Management Co. LLC increased its holdings in Bank of America by 0.6% in the 3rd quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider’s stock valued at $1,484,000 after buying an additional 227 shares during the period. Beacon Investment Advisory Services Inc. raised its position in shares of Bank of America by 1.1% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 20,863 shares of the financial services provider’s stock valued at $828,000 after buying an additional 231 shares in the last quarter. Integrity Financial Corp WA lifted its holdings in shares of Bank of America by 1.6% during the 3rd quarter. Integrity Financial Corp WA now owns 14,875 shares of the financial services provider’s stock worth $590,000 after acquiring an additional 240 shares during the period. Finally, Cahill Financial Advisors Inc. boosted its position in shares of Bank of America by 2.1% during the 3rd quarter. Cahill Financial Advisors Inc. now owns 12,231 shares of the financial services provider’s stock worth $485,000 after acquiring an additional 249 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

BAC has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their target price on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company raised their price objective on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $54.00 in a research note on Friday, November 8th. Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Oppenheimer cut their target price on shares of Bank of America from $57.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

Bank of America Stock Performance

Shares of BAC opened at $47.23 on Thursday. The stock has a 50 day moving average of $45.69 and a 200 day moving average of $42.31. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09. Bank of America Co. has a 12 month low of $31.27 and a 12 month high of $48.08. The company has a market capitalization of $362.39 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.23 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.03. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. As a group, sell-side analysts forecast that Bank of America Co. will post 3.24 earnings per share for the current 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.