Marshall Financial Group LLC Sells 674 Shares of Bank of America Co. (NYSE:BAC)

Marshall Financial Group LLC decreased its position in Bank of America Co. (NYSE:BAC) by 3.2% during the 4th quarter, HoldingsChannel reports. The fund owned 20,686 shares of the financial services provider’s stock after selling 674 shares during the quarter. Marshall Financial Group LLC’s holdings in Bank of America were worth $909,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Deerfield Management Company L.P. Series C bought a new position in Bank of America in the second quarter valued at $240,000. Lighthouse Investment Partners LLC boosted its stake in shares of Bank of America by 1.5% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 75,957 shares of the financial services provider’s stock worth $3,021,000 after buying an additional 1,143 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc boosted its stake in shares of Bank of America by 125.5% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,609 shares of the financial services provider’s stock worth $1,416,000 after buying an additional 19,821 shares during the last quarter. Kathmere Capital Management LLC grew its holdings in shares of Bank of America by 13.1% in the 2nd quarter. Kathmere Capital Management LLC now owns 28,751 shares of the financial services provider’s stock valued at $1,143,000 after acquiring an additional 3,334 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its position in shares of Bank of America by 56.8% in the second quarter. Driehaus Capital Management LLC now owns 21,993 shares of the financial services provider’s stock valued at $875,000 after acquiring an additional 7,964 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BAC shares. Evercore ISI decreased their price target on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Piper Sandler dropped their price target 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, January 17th. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. Finally, Morgan Stanley upped their target price on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Price Performance

Shares of Bank of America stock opened at $46.48 on Friday. The company has a 50-day simple moving average of $45.82 and a two-hundred day simple moving average of $42.61. Bank of America Co. has a twelve month low of $32.35 and a twelve month high of $48.08. The stock has a market capitalization of $356.60 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC) last issued its quarterly 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 $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same period in the previous year, the company posted $0.70 earnings per share. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. Analysts forecast that Bank of America Co. will post 3.67 EPS for the current year.

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.