Thurston Springer Miller Herd & Titak Inc. Sells 7,129 Shares of Bank of America Co. (NYSE:BAC)

Thurston Springer Miller Herd & Titak Inc. cut its position in shares of Bank of America Co. (NYSE:BAC) by 63.3% in the fourth quarter, HoldingsChannel reports. The firm owned 4,140 shares of the financial services provider’s stock after selling 7,129 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Bank of America were worth $182,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in BAC. Kennebec Savings Bank bought a new position in Bank of America during the 3rd quarter worth about $29,000. Highline Wealth Partners LLC lifted its position 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 purchasing an additional 510 shares during the period. Christopher J. Hasenberg Inc boosted its stake in shares of Bank of America by 525.9% during the third 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 in the last quarter. Northwest Investment Counselors LLC purchased a new position in Bank of America during the third quarter valued at approximately $45,000. Finally, Truvestments Capital LLC bought a new stake in Bank of America during the third quarter valued at about $73,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on BAC. Truist Financial began coverage on Bank of America in a report on Tuesday, January 7th. They set a “buy” rating and a $52.00 price objective for the company. Keefe, Bruyette & Woods upped 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. Oppenheimer decreased their price objective on shares of Bank of America from $57.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $46.00 to $54.00 in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, six have issued 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 presently has an average rating of “Moderate Buy” and an average target price of $48.18.

Bank of America Trading Down 1.0 %

BAC stock opened at $46.65 on Friday. Bank of America Co. has a 12-month low of $31.27 and a 12-month high of $48.08. The business’s 50-day moving average is $45.72 and its 200 day moving average is $42.34. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09. The stock has a market cap of $357.91 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 1.23 and a beta of 1.33.

Bank of America (NYSE:BAC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same period in the prior year, the business earned $0.70 earnings per share. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Bank of America Co. will post 3.24 EPS for the current fiscal year.

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.