Bank of America Co. (NYSE:BAC) Shares Sold by Great Waters Wealth Management

Great Waters Wealth Management trimmed its position in Bank of America Co. (NYSE:BAC) by 8.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,927 shares of the financial services provider’s stock after selling 440 shares during the quarter. Great Waters Wealth Management’s holdings in Bank of America were worth $217,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Kennebec Savings Bank purchased a new stake in shares of Bank of America in the third quarter worth about $29,000. Highline Wealth Partners LLC grew its position in Bank of America by 152.7% in the fourth 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 in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Bank of America during the fourth quarter valued at approximately $42,000. Christopher J. Hasenberg Inc lifted its position in shares of Bank of America by 525.9% during 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 in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Bank of America in the third quarter valued at $45,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Down 0.2 %

BAC stock opened at $46.54 on Tuesday. The firm’s 50-day moving average is $45.80 and its two-hundred day moving average is $42.48. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $357.13 billion, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 1.27 and a beta of 1.33. Bank of America Co. has a 52 week low of $31.40 and a 52 week high of $48.08.

Bank of America (NYSE:BACGet 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 firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the company posted $0.70 EPS. On average, analysts forecast that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Barclays lifted their price objective on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Piper Sandler reduced their target price on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday. Truist Financial lifted their price target on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday. Finally, UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $43.00 to $53.00 in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

Read Our Latest Research Report on BAC

Bank of America Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding BAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of America Co. (NYSE:BACFree Report).

Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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