Bensler LLC Takes Position in Bank of America Co. (NYSE:BAC)

Bensler LLC purchased a new position in shares of Bank of America Co. (NYSE:BAC) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,480 shares of the financial services provider’s stock, valued at approximately $241,000.

Other institutional investors have also added to or reduced their stakes in the company. Driehaus Capital Management LLC grew its position in Bank of America by 56.8% during the second quarter. Driehaus Capital Management LLC now owns 21,993 shares of the financial services provider’s stock worth $875,000 after buying an additional 7,964 shares in the last quarter. Regal Investment Advisors LLC lifted its position in shares of Bank of America by 2.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 47,468 shares of the financial services provider’s stock valued at $1,888,000 after acquiring an additional 1,060 shares during the period. Advisory Alpha LLC grew its holdings in shares of Bank of America by 6.2% during the 2nd quarter. Advisory Alpha LLC now owns 25,974 shares of the financial services provider’s stock worth $1,033,000 after purchasing an additional 1,513 shares in the last quarter. Granite Bay Wealth Management LLC bought a new position in shares of Bank of America in the second quarter worth $7,349,000. Finally, SPC Financial Inc. raised its stake in Bank of America by 7.4% in the second quarter. SPC Financial Inc. now owns 27,460 shares of the financial services provider’s stock valued at $1,092,000 after purchasing an additional 1,883 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors.

Bank of America Stock Performance

Shares of Bank of America stock opened at $46.88 on Wednesday. The stock has a market cap of $359.70 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 1.24 and a beta of 1.33. Bank of America Co. has a twelve month low of $32.35 and a twelve month high of $48.08. The company’s fifty day moving average is $45.82 and its 200 day moving average is $42.67. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC) last released 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 10.29% and a net margin of 14.10%. The firm had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the previous year, the company posted $0.70 EPS. The business’s revenue was up 15.0% on a year-over-year basis. Sell-side analysts forecast that Bank of America Co. will post 3.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BAC. Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 price objective on shares of Bank of America in a research note on Wednesday, October 9th. Morgan Stanley increased their price target on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Evercore ISI cut their target price on 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. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and raised their target price for the company from $46.00 to $54.00 in a report on Friday, November 8th. Finally, Truist Financial boosted their price target on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus target price 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.