Albert D Mason Inc. Trims Stake in Bank of America Co. (NYSE:BAC)

Albert D Mason Inc. lowered its position in Bank of America Co. (NYSE:BACFree Report) by 1.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,805 shares of the financial services provider’s stock after selling 225 shares during the period. Albert D Mason Inc.’s holdings in Bank of America were worth $739,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BAC. Kennebec Savings Bank bought a new position in Bank of America in the third quarter worth $29,000. Highline Wealth Partners LLC increased its stake in shares of Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc lifted its position in Bank of America by 525.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 852 shares during the period. Northwest Investment Counselors LLC bought a new stake in Bank of America during the third quarter worth about $45,000. Finally, Truvestments Capital LLC purchased a new stake in Bank of America in the third quarter worth about $73,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Trading Down 0.2 %

Shares of NYSE:BAC opened at $46.54 on Friday. Bank of America Co. has a 52-week low of $31.40 and a 52-week high of $48.08. The stock has a market capitalization of $357.13 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 1.23 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 stock’s 50-day simple moving average is $45.76 and its two-hundred day simple moving average is $42.37.

Bank of America (NYSE:BACGet Free Report) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The company had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same period in the previous year, the business posted $0.70 earnings per share. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. Analysts expect that Bank of America Co. will post 3.24 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on BAC. Piper Sandler lowered their target price on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Friday. Wells Fargo & Company lifted their price objective 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. Barclays increased their target price on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Truist Financial lifted their price target on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Get Our Latest Report on Bank of America

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.

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

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