By otakuyassine3@gmail.com 
Baldwin Wealth Partners LLC MA lessened its position in Bank of America Co. (NYSE:BAC) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 172,625 shares of the financial services provider’s stock after selling 405 shares during the quarter. Baldwin Wealth Partners LLC MA’s holdings in Bank of America were worth $7,587,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Kennebec Savings Bank bought a new position in shares of Bank of America during the third quarter valued at approximately $29,000. Highline Wealth Partners LLC boosted its holdings in 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 acquiring an additional 510 shares during the period. Christopher J. Hasenberg Inc increased its stake in Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 852 shares during the period. Retirement Wealth Solutions LLC bought a new stake in shares of Bank of America during the fourth quarter worth $42,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Bank of America during the third quarter valued at $45,000. 70.71% of the stock is currently owned by institutional investors.
Bank of America Price Performance
Shares of BAC stock opened at $46.66 on Monday. The firm has a market capitalization of $357.99 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 1.24 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The stock’s 50-day simple moving average is $45.82 and its 200-day simple moving average is $42.63. Bank of America Co. has a fifty-two week low of $32.35 and a fifty-two week high of $48.08.
Bank of America (NYSE:BAC – Get Free Report) 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 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 net margin of 14.10% and a return on equity of 10.29%. Bank of America’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 EPS. As a group, equities analysts forecast that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research analysts recently commented on BAC shares. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target on the stock in a research note on Friday, October 18th. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and raised their target price for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a report on Tuesday, January 7th. Finally, Evercore ISI dropped their price target on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and an average price target of $48.58.
View Our Latest Analysis on BAC
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.
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