Bank of America Co. (NYSE:BAC) Holdings Cut by B.O.S.S. Retirement Advisors LLC

B.O.S.S. Retirement Advisors LLC reduced its stake in shares of Bank of America Co. (NYSE:BAC) by 63.8% during the 4th quarter, HoldingsChannel reports. The fund owned 4,936 shares of the financial services provider’s stock after selling 8,692 shares during the period. B.O.S.S. Retirement Advisors LLC’s holdings in Bank of America were worth $217,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Deerfield Management Company L.P. Series C acquired a new position in Bank of America in the 2nd quarter worth about $240,000. Lighthouse Investment Partners LLC raised its position in Bank of America by 1.5% during the second quarter. Lighthouse Investment Partners LLC now owns 75,957 shares of the financial services provider’s stock valued at $3,021,000 after acquiring an additional 1,143 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc lifted its stake in Bank of America by 125.5% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,609 shares of the financial services provider’s stock valued at $1,416,000 after acquiring an additional 19,821 shares during the last quarter. Kathmere Capital Management LLC grew its position in Bank of America by 13.1% in the second quarter. Kathmere Capital Management LLC now owns 28,751 shares of the financial services provider’s stock worth $1,143,000 after acquiring an additional 3,334 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its stake in shares of Bank of America by 56.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 21,993 shares of the financial services provider’s stock worth $875,000 after purchasing an additional 7,964 shares during the last quarter. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Price Performance

NYSE:BAC opened at $46.48 on Friday. 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 company has a 50-day moving average of $45.82 and a 200-day moving average of $42.61. Bank of America Co. has a 52 week low of $32.35 and a 52 week high of $48.08. The company has a market capitalization of $356.60 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 1.24 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same quarter last 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. As a group, equities research analysts anticipate that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on BAC. Barclays lifted their price objective on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price objective on shares of Bank of America in a report on Wednesday, October 9th. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Evercore ISI lowered their price target on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. Finally, Truist Financial boosted their price objective on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $48.58.

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.