Annex Advisory Services LLC Purchases 372 Shares of Bank of America Co. (NYSE:BAC)

Annex Advisory Services LLC boosted its position in shares of Bank of America Co. (NYSE:BAC) by 4.7% during the 4th quarter, HoldingsChannel reports. The fund owned 8,267 shares of the financial services provider’s stock after buying an additional 372 shares during the quarter. Annex Advisory Services LLC’s holdings in Bank of America were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kennebec Savings Bank bought a new position in Bank of America during the third quarter valued at about $29,000. Highline Wealth Partners LLC increased its stake in Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 510 shares during the period. Christopher J. Hasenberg Inc grew its stake in shares of Bank of America by 525.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 852 shares during the period. Retirement Wealth Solutions LLC bought a new stake in shares of Bank of America in the 4th quarter valued at approximately $42,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Bank of America in the 3rd quarter valued at approximately $45,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America Stock Performance

BAC stock opened at $46.54 on Tuesday. The business’s fifty day moving average is $45.79 and its 200-day moving average is $42.44. 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 company has a market cap of $357.13 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. Bank of America Co. has a twelve month low of $31.40 and a twelve 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 EPS. Equities research analysts forecast that Bank of America Co. will post 3.24 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barclays upped their price objective on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Phillip Securities upgraded Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a research note on Friday, October 18th. Wells Fargo & Company upped their price objective on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price objective on shares of Bank of America in a research note on Wednesday, October 9th. Finally, StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $48.58.

About Bank of America

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.