Bank of America Co. (NYSE:BAC) Shares Sold by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC lessened its stake in shares of Bank of America Co. (NYSE:BAC) by 0.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 61,532 shares of the financial services provider’s stock after selling 327 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Bank of America were worth $2,704,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BAC. Kennebec Savings Bank purchased a new stake in shares of Bank of America in the 3rd quarter valued at approximately $29,000. Highline Wealth Partners LLC lifted its holdings 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 valued at $37,000 after purchasing an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc boosted its position 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 buying an additional 852 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Bank of America in the third quarter worth $45,000. Finally, Truvestments Capital LLC acquired a new position in Bank of America during the third quarter valued at $73,000. 70.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BAC. Evercore ISI decreased their price objective on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and increased their target price for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Oppenheimer lifted their price objective on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Price Performance

Shares of Bank of America stock opened at $46.54 on Friday. 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 firm has a fifty day simple moving average of $45.76 and a 200-day simple moving average of $42.37. 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. Bank of America Co. has a 1-year low of $31.40 and a 1-year high of $48.08.

Bank of America (NYSE:BAC) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The business’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 EPS. On average, sell-side analysts expect that Bank of America Co. will post 3.24 earnings per share for the current year.

Bank of America Company 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.