Godsey & Gibb Inc. Has $106,000 Stake in Bank of America Co. (NYSE:BAC)

Godsey & Gibb Inc. lowered its stake in Bank of America Co. (NYSE:BAC) by 11.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,418 shares of the financial services provider’s stock after selling 319 shares during the quarter. Godsey & Gibb Inc.’s holdings in Bank of America were worth $106,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kennebec Savings Bank acquired a new stake in Bank of America in the 3rd quarter worth approximately $29,000. Highline Wealth Partners LLC increased its stake in shares of 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 worth $37,000 after purchasing an additional 510 shares during the period. Christopher J. Hasenberg Inc increased 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 purchasing an additional 852 shares during the period. Northwest Investment Counselors LLC bought a new stake in Bank of America during the 3rd quarter valued at approximately $45,000. Finally, Truvestments Capital LLC bought a new stake in shares of Bank of America in the third quarter valued at approximately $73,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analysts Set New Price Targets

BAC has been the subject of a number of research reports. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Keefe, Bruyette & Woods lifted their price objective on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Wells Fargo & Company raised their target price on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Evercore ISI upped their price target on Bank of America from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Bank of America Stock Performance

BAC stock opened at $47.23 on Thursday. The stock has a market capitalization of $362.39 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. The company has a 50 day moving average price of $45.69 and a 200 day moving average price of $42.31. Bank of America Co. has a fifty-two week low of $31.27 and a fifty-two week high of $48.08.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.03. The business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.25 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 earnings per share. Analysts forecast that Bank of America Co. will post 3.24 EPS for the current 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.