Bank of America Co. (NYSE:BAC) Stake Raised by Relyea Zuckerberg Hanson LLC

Relyea Zuckerberg Hanson LLC lifted its stake in Bank of America Co. (NYSE:BAC) by 3.4% during the fourth quarter, HoldingsChannel reports. The fund owned 18,495 shares of the financial services provider’s stock after purchasing an additional 604 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in Bank of America were worth $813,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Kennebec Savings Bank acquired a new stake in shares of Bank of America during the 3rd quarter valued at about $29,000. Highline Wealth Partners LLC raised its holdings in shares of Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc increased its position in Bank of America by 525.9% during the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after buying an additional 852 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in Bank of America during the third quarter valued at approximately $45,000. Finally, Truvestments Capital LLC acquired a new position in Bank of America during the 3rd quarter worth $73,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BAC shares. Oppenheimer lowered their target price on Bank of America from $57.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Barclays lifted their target price on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Morgan Stanley lowered Bank of America from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $48.00 to $55.00 in a report on Monday, December 9th. Evercore ISI cut their target price on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 price target on shares of Bank of America in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.48.

Bank of America Trading Up 0.4 %

NYSE:BAC traded up $0.18 on Friday, reaching $46.82. The company’s stock had a trading volume of 7,083,968 shares, compared to its average volume of 35,688,992. The firm has a market cap of $359.27 billion, a PE ratio of 17.00, a PEG ratio of 1.23 and a beta of 1.33. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80. The business’s 50-day moving average price is $45.72 and its two-hundred day moving average price is $42.34. Bank of America Co. has a 1-year low of $31.40 and a 1-year high of $48.08.

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