Bank of America Co. (NYSE:BAC) Holdings Lowered by Mitchell Mcleod Pugh & Williams Inc.

Mitchell Mcleod Pugh & Williams Inc. lessened its stake in shares of Bank of America Co. (NYSE:BAC) by 2.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 53,175 shares of the financial services provider’s stock after selling 1,512 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Bank of America were worth $2,337,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BAC. Accent Capital Management LLC grew its holdings in shares of Bank of America by 43.0% during the third quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider’s stock valued at $1,567,000 after buying an additional 11,873 shares in the last quarter. Summit Global Investments boosted its position in Bank of America by 237.6% during the 3rd quarter. Summit Global Investments now owns 51,278 shares of the financial services provider’s stock worth $2,035,000 after acquiring an additional 36,089 shares during the period. Geode Capital Management LLC grew its stake in Bank of America by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock valued at $5,546,871,000 after acquiring an additional 1,700,141 shares in the last quarter. Baker Avenue Asset Management LP increased its holdings in shares of Bank of America by 125.8% in the 3rd quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider’s stock valued at $2,421,000 after purchasing an additional 33,983 shares during the period. Finally, Copley Financial Group Inc. purchased a new stake in shares of Bank of America in the third quarter worth approximately $550,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Piper Sandler dropped 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 note on Friday. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods increased their price objective on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. Finally, Barclays raised their price target on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Stock Down 0.2 %

BAC stock opened at $46.54 on Monday. The stock has a market capitalization of $357.13 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. The company has a 50-day moving average of $45.79 and a two-hundred day moving average of $42.43. 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 52-week low of $31.40 and a 52-week high of $48.08.

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

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.