Kathmere Capital Management LLC Buys 2,978 Shares of Bank of America Co. (NYSE:BAC)

Kathmere Capital Management LLC boosted its stake in Bank of America Co. (NYSE:BAC) by 9.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,815 shares of the financial services provider’s stock after buying an additional 2,978 shares during the quarter. Kathmere Capital Management LLC’s holdings in Bank of America were worth $1,486,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BAC. Fairway Wealth LLC acquired a new stake in Bank of America during the 2nd quarter valued at $27,000. Kennebec Savings Bank acquired a new stake in Bank of America during the 3rd quarter worth $29,000. Highline Wealth Partners LLC raised its position in shares of 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 last quarter. Christopher J. Hasenberg Inc lifted its stake in shares of Bank of America by 525.9% in the 3rd 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 period. Finally, Northwest Investment Counselors LLC bought a new position in shares of Bank of America in the 3rd quarter worth $45,000. 70.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BAC shares. Wells Fargo & Company increased their target price on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Piper Sandler increased their price target on shares of Bank of America from $44.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Morgan Stanley cut shares of Bank of America from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $48.00 to $55.00 in a research report on Monday, December 9th. Keefe, Bruyette & Woods lifted their price target on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.50.

Bank of America Stock Performance

NYSE BAC opened at $45.88 on Wednesday. Bank of America Co. has a fifty-two week low of $31.27 and a fifty-two week high of $48.08. The stock has a market cap of $352.03 billion, a PE ratio of 16.68, a PEG ratio of 1.55 and a beta of 1.33. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80. The firm’s fifty day moving average price is $45.69 and its two-hundred day moving average price is $42.31.

Bank of America (NYSE:BAC) last issued its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The business had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.25 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The business’s revenue for the quarter was up .4% compared to the same quarter last year. On average, equities analysts expect that Bank of America Co. will post 3.27 EPS for the current fiscal year.

About Bank of America

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.