St. Johns Investment Management Company LLC Has $4.29 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

St. Johns Investment Management Company LLC lifted its stake in shares of Bank of America Co. (NYSE:BAC) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 97,497 shares of the financial services provider’s stock after acquiring an additional 1,420 shares during the quarter. Bank of America comprises approximately 2.0% of St. Johns Investment Management Company LLC’s holdings, making the stock its 13th largest position. St. Johns Investment Management Company LLC’s holdings in Bank of America were worth $4,285,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Kennebec Savings Bank bought a new stake in Bank of America during the 3rd quarter valued at approximately $29,000. Highline Wealth Partners LLC lifted its holdings in shares of 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 buying an additional 510 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Bank of America in the fourth quarter valued at approximately $42,000. Christopher J. Hasenberg Inc grew its stake 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 worth $40,000 after acquiring an additional 852 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in Bank of America during the third quarter worth $45,000. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Up 1.4 %

Shares of NYSE BAC opened at $46.41 on Friday. Bank of America Co. has a 52-week low of $32.35 and a 52-week high of $48.08. 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 has a market cap of $356.13 billion, a P/E ratio of 14.41, a P/E/G ratio of 1.24 and a beta of 1.33. The firm has a 50 day moving average price of $45.81 and a 200 day moving average price of $42.55.

Bank of America (NYSE:BAC) last announced its quarterly earnings results 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. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same period in the prior year, the company earned $0.70 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. Analysts expect that Bank of America Co. will post 3.67 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BAC. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and increased their price target for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Truist Financial upped their price target on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, January 17th. Wells Fargo & Company boosted their price objective on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Evercore ISI dropped their price target on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

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.