Boston Common Asset Management LLC Has $10.75 Million Stock Position in Bank of America Co. (NYSE:BAC)

Boston Common Asset Management LLC boosted its holdings in shares of Bank of America Co. (NYSE:BAC) by 68.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 244,594 shares of the financial services provider’s stock after buying an additional 99,614 shares during the quarter. Boston Common Asset Management LLC’s holdings in Bank of America were worth $10,750,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Kennebec Savings Bank acquired a new position in shares of Bank of America during the 3rd quarter worth approximately $29,000. Highline Wealth Partners LLC boosted its position in Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 510 shares during the period. Christopher J. Hasenberg Inc increased its holdings in shares of 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 valued at $40,000 after purchasing an additional 852 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Bank of America in the third quarter valued at about $45,000. Finally, Truvestments Capital LLC acquired a new stake in shares of Bank of America during the 3rd quarter worth about $73,000. Institutional investors own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Morgan Stanley downgraded Bank of America from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $48.00 to $55.00 in a research report on Monday, December 9th. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $46.00 to $54.00 in a report on Friday, November 8th. Wells Fargo & Company upped their price objective on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $46.00 target price on shares of Bank of America in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and a consensus price target of $48.48.

Bank of America Price Performance

Shares of BAC traded up $0.18 during midday trading on Friday, hitting $46.82. The company’s stock had a trading volume of 7,083,968 shares, compared to its average volume of 35,688,992. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. Bank of America Co. has a one year low of $31.40 and a one year high of $48.08. The stock has a market capitalization of $359.27 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. The company’s fifty day simple moving average is $45.72 and its two-hundred day simple moving average is $42.34.

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

Bank of America 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.