Baldwin Wealth Partners LLC MA Trims Stock Position in Bank of America Co. (NYSE:BAC)

Baldwin Wealth Partners LLC MA decreased its stake in Bank of America Co. (NYSE:BAC) by 0.2% during the fourth quarter, according to its most recent disclosure with the Securities & 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BAC. Foundations Investment Advisors LLC boosted its position in Bank of America by 3.3% in the 4th quarter. Foundations Investment Advisors LLC now owns 50,703 shares of the financial services provider’s stock worth $2,228,000 after purchasing an additional 1,599 shares in the last quarter. Parsons Capital Management Inc. RI lifted its stake in shares of Bank of America by 66.9% in the 4th quarter. Parsons Capital Management Inc. RI now owns 198,916 shares of the financial services provider’s stock valued at $8,742,000 after purchasing an additional 79,747 shares during the period. West Wealth Group LLC boosted its holdings in Bank of America by 10.0% during the fourth quarter. West Wealth Group LLC now owns 7,169 shares of the financial services provider’s stock worth $315,000 after buying an additional 652 shares in the last quarter. McLean Asset Management Corp grew its position in Bank of America by 3.1% during the fourth quarter. McLean Asset Management Corp now owns 29,624 shares of the financial services provider’s stock valued at $1,302,000 after buying an additional 903 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in Bank of America by 75.2% in the fourth quarter. Pacer Advisors Inc. now owns 876,784 shares of the financial services provider’s stock valued at $38,535,000 after buying an additional 376,203 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Stock Performance

Bank of America stock opened at $46.66 on Monday. The firm has a 50 day simple moving average of $45.82 and a 200-day simple moving average of $42.63. The stock has a market cap of $357.99 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. Bank of America Co. has a 1-year low of $32.35 and a 1-year high of $48.08.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. The company 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 revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 earnings per share. On average, analysts expect that Bank of America Co. will post 3.67 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on BAC. Morgan Stanley lifted their price target on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and increased their target price for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. Oppenheimer boosted their price target on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. 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 assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.58.

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.