Bank of America Co. (NYSE:BAC) Stock Position Increased by My Legacy Advisors LLC

My Legacy Advisors LLC grew its position in Bank of America Co. (NYSE:BAC) by 9.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,115 shares of the financial services provider’s stock after purchasing an additional 940 shares during the period. My Legacy Advisors LLC’s holdings in Bank of America were worth $523,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in BAC. Traveka Wealth LLC increased its position in Bank of America by 2.7% in the 4th quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock valued at $382,000 after acquiring an additional 226 shares during the period. Longfellow Investment Management Co. LLC grew its stake in shares of Bank of America by 0.6% in the third quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider’s stock worth $1,484,000 after purchasing an additional 227 shares in the last quarter. Beacon Investment Advisory Services Inc. increased its holdings in shares of Bank of America by 1.1% during the third quarter. Beacon Investment Advisory Services Inc. now owns 20,863 shares of the financial services provider’s stock valued at $828,000 after purchasing an additional 231 shares during the period. Integrity Financial Corp WA raised its stake in shares of Bank of America by 1.6% during the third quarter. Integrity Financial Corp WA now owns 14,875 shares of the financial services provider’s stock valued at $590,000 after purchasing an additional 240 shares in the last quarter. Finally, Cahill Financial Advisors Inc. lifted its holdings in Bank of America by 2.1% in the third quarter. Cahill Financial Advisors Inc. now owns 12,231 shares of the financial services provider’s stock worth $485,000 after purchasing an additional 249 shares during the period. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of Bank of America stock opened at $46.54 on Friday. Bank of America Co. has a 12 month low of $31.40 and a 12 month high of $48.08. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. The stock has a market cap of $357.13 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. The business has a fifty day simple moving average of $45.79 and a 200-day simple moving average of $42.42.

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, beating the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.70 EPS. On average, sell-side analysts anticipate that Bank of America Co. will post 3.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on BAC shares. Morgan Stanley boosted 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. Oppenheimer upped their target price on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and lifted their price target for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Truist Financial upped their price objective on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday. Finally, Evercore ISI decreased 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. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus 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.