Affinity Capital Advisors LLC Has $436,000 Holdings in Bank of America Co. (NYSE:BAC)

Affinity Capital Advisors LLC lessened its position in shares of Bank of America Co. (NYSE:BAC) by 11.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 9,472 shares of the financial services provider’s stock after selling 1,248 shares during the quarter. Affinity Capital Advisors LLC’s holdings in Bank of America were worth $436,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BAC. Tlwm boosted its holdings in shares of Bank of America by 3.8% during the 4th quarter. Tlwm now owns 36,078 shares of the financial services provider’s stock worth $1,586,000 after buying an additional 1,315 shares in the last quarter. GSG Advisors LLC bought a new position in shares of Bank of America during the 4th quarter worth approximately $201,000. Rosenberg Matthew Hamilton boosted its holdings in shares of Bank of America by 2.9% during the 4th quarter. Rosenberg Matthew Hamilton now owns 9,618 shares of the financial services provider’s stock worth $423,000 after buying an additional 270 shares in the last quarter. Greenfield Savings Bank boosted its holdings in shares of Bank of America by 0.8% during the 4th quarter. Greenfield Savings Bank now owns 39,947 shares of the financial services provider’s stock worth $1,756,000 after buying an additional 313 shares in the last quarter. Finally, Gleason Group Inc. boosted its holdings in shares of Bank of America by 0.5% during the 4th quarter. Gleason Group Inc. now owns 98,957 shares of the financial services provider’s stock worth $4,349,000 after buying an additional 523 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BAC shares. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and increased their price target for the stock from $46.00 to $54.00 in a report on Friday, November 8th. Piper Sandler increased their target price on Bank of America from $44.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Evercore ISI increased their target price on Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Truist Financial started coverage on Bank of America in a report on Tuesday, January 7th. They issued a “buy” rating and a $52.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $47.50.

Bank of America Trading Up 1.8 %

NYSE BAC opened at $45.88 on Wednesday. The firm has a market capitalization of $352.03 billion, a P/E ratio of 16.68, a PEG ratio of 1.55 and a beta of 1.33. The business has a fifty day simple moving average of $45.69 and a 200 day simple moving average of $42.31. Bank of America Co. has a 12 month low of $31.27 and a 12 month 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.

Bank of America (NYSE:BAC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.03. 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 during the quarter, compared to analyst estimates of $25.25 billion. During the same period last year, the firm posted $0.90 EPS. The business’s revenue was up .4% compared to the same quarter last year. On average, analysts predict that Bank of America Co. will post 3.27 EPS for the current fiscal 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.