CGN Advisors LLC Has $331,000 Stock Holdings in Bank of America Co. (NYSE:BAC)

CGN Advisors LLC lifted its stake in Bank of America Co. (NYSE:BAC) by 6.1% in the fourth quarter, HoldingsChannel reports. The firm owned 7,535 shares of the financial services provider’s stock after purchasing an additional 431 shares during the period. CGN Advisors LLC’s holdings in Bank of America were worth $331,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Kennebec Savings Bank acquired a new position in shares of Bank of America in the third quarter worth about $29,000. Highline Wealth Partners LLC lifted its position in shares of 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 acquiring an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc lifted its position in shares of Bank of America by 525.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 852 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in Bank of America in the 4th quarter worth approximately $42,000. Finally, Northwest Investment Counselors LLC purchased a new position in Bank of America during the 3rd quarter worth approximately $45,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of BAC opened at $46.54 on Friday. The company has a market capitalization of $357.13 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. Bank of America Co. has a one year low of $31.40 and a one year high of $48.08. The company’s fifty day moving average price is $45.79 and its 200 day moving average price is $42.42.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 earnings per share. As a group, analysts expect that Bank of America Co. will post 3.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BAC shares. Barclays raised 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. Evercore ISI lowered their target price on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Piper Sandler lowered their price objective on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 target price on shares of Bank of America in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

About Bank of America

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.