Goelzer Investment Management Inc. Sells 2,011 Shares of Bank of America Co. (NYSE:BAC)

Goelzer Investment Management Inc. decreased its position in Bank of America Co. (NYSE:BAC) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 229,046 shares of the financial services provider’s stock after selling 2,011 shares during the period. Bank of America accounts for 0.6% of Goelzer Investment Management Inc.’s portfolio, making the stock its 29th largest position. Goelzer Investment Management Inc.’s holdings in Bank of America were worth $10,067,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Curated Wealth Partners LLC grew its stake in shares of Bank of America by 0.8% during the fourth quarter. Curated Wealth Partners LLC now owns 32,359 shares of the financial services provider’s stock worth $1,422,000 after purchasing an additional 248 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Bank of America by 11.5% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 68,955 shares of the financial services provider’s stock worth $3,031,000 after buying an additional 7,133 shares during the last quarter. Encompass More Asset Management grew its position in shares of Bank of America by 11.3% during the 4th quarter. Encompass More Asset Management now owns 8,686 shares of the financial services provider’s stock worth $382,000 after buying an additional 884 shares during the period. Southland Equity Partners LLC increased its stake in shares of Bank of America by 2.6% in the 4th quarter. Southland Equity Partners LLC now owns 9,016 shares of the financial services provider’s stock valued at $396,000 after acquiring an additional 231 shares during the last quarter. Finally, St. Johns Investment Management Company LLC raised its position in shares of Bank of America by 1.5% in the 4th quarter. St. Johns Investment Management Company LLC now owns 97,497 shares of the financial services provider’s stock valued at $4,285,000 after acquiring an additional 1,420 shares during the period. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Trading Up 0.2 %

Bank of America stock opened at $46.48 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a 50-day moving average of $45.82 and a 200-day moving average of $42.57. The company has a market cap of $356.60 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 1.24 and a beta of 1.33. Bank of America Co. has a one year low of $32.35 and a one year high of $48.08.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same period last year, the company earned $0.70 earnings per share. The business’s revenue was up 15.0% compared to the same quarter last year. On average, equities analysts expect that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on BAC. Oppenheimer boosted their price objective on shares of Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Keefe, Bruyette & Woods boosted their price target on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Truist Financial raised their price objective on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. Finally, Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.58.

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 in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.