Whitaker Myers Wealth Managers LTD. Takes $389,000 Position in Bank of America Co. (NYSE:BAC)

Whitaker Myers Wealth Managers LTD. purchased a new stake in shares of Bank of America Co. (NYSE:BAC) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,861 shares of the financial services provider’s stock, valued at approximately $389,000.

A number of other hedge funds have also recently made changes to their positions in BAC. Kennebec Savings Bank acquired a new position in shares of Bank of America in the third quarter worth approximately $29,000. Highline Wealth Partners LLC lifted 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 acquiring an additional 510 shares during the period. Retirement Wealth Solutions LLC acquired a new position in shares of Bank of America in the fourth quarter worth approximately $42,000. Christopher J. Hasenberg Inc lifted 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 acquiring an additional 852 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Bank of America in the third quarter worth approximately $45,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Stock Down 0.2 %

BAC stock opened at $46.54 on Friday. Bank of America Co. has a 1-year low of $31.40 and a 1-year high of $48.08. 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’s fifty day simple moving average is $45.79 and its two-hundred day simple moving average is $42.42. The stock has a market cap of $357.13 billion, a P/E ratio of 16.93, a P/E/G ratio of 1.23 and a beta of 1.33.

Bank of America (NYSE:BAC) last issued its quarterly 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 return on equity of 10.09% and a net margin of 12.48%. The firm had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. The business’s revenue for the quarter 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.

Analyst Ratings Changes

A number of research firms recently commented on BAC. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $43.00 to $53.00 in a report on Tuesday, January 7th. Piper Sandler lowered their target price on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Friday. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Barclays lifted their target price on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $48.58.

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.