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

Stablepoint Partners LLC decreased its stake in shares of Bank of America Co. (NYSE:BAC) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,033 shares of the financial services provider’s stock after selling 475 shares during the period. Stablepoint Partners LLC’s holdings in Bank of America were worth $353,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Kennebec Savings Bank purchased a new position in shares of Bank of America in the 3rd quarter worth $29,000. Highline Wealth Partners LLC raised its holdings 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. Retirement Wealth Solutions LLC acquired a new position in shares of Bank of America in the 4th quarter valued at about $42,000. Christopher J. Hasenberg Inc grew its holdings in shares of 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 worth $40,000 after purchasing an additional 852 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new stake in Bank of America during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of BAC opened at $46.48 on Monday. The stock has a market capitalization of $356.60 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. The business’s fifty day moving average price is $45.82 and its 200 day moving average price is $42.62. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. Bank of America Co. has a 12-month low of $32.35 and a 12-month high of $48.08.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate 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 business 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 EPS. The company’s quarterly revenue was up 15.0% on a year-over-year basis. Equities research analysts forecast that Bank of America Co. will post 3.67 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Evercore ISI decreased their price objective on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Barclays boosted their price objective 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. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price target on shares of Bank of America in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $48.58.

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.