Bank of America Co. (NYSE:BAC) Shares Sold by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC lowered its position in shares of Bank of America Co. (NYSE:BAC) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,155 shares of the financial services provider’s stock after selling 921 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Bank of America were worth $4,490,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Edgestream Partners L.P. bought a new position in Bank of America in the second quarter worth about $257,000. Pacer Advisors Inc. lifted its holdings in Bank of America by 2.7% in the second quarter. Pacer Advisors Inc. now owns 484,549 shares of the financial services provider’s stock worth $19,271,000 after purchasing an additional 12,611 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Bank of America by 186.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 66,881 shares of the financial services provider’s stock worth $2,660,000 after acquiring an additional 43,552 shares during the period. ProShare Advisors LLC increased its stake in shares of Bank of America by 2.6% during the second quarter. ProShare Advisors LLC now owns 1,412,331 shares of the financial services provider’s stock valued at $56,168,000 after acquiring an additional 35,450 shares during the period. Finally, Mount Yale Investment Advisors LLC lifted its position in Bank of America by 20.7% in the second quarter. Mount Yale Investment Advisors LLC now owns 7,557 shares of the financial services provider’s stock worth $301,000 after purchasing an additional 1,297 shares during the period. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of BAC opened at $46.54 on Tuesday. The company has a market capitalization 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 company’s fifty day moving average price is $45.79 and its 200 day moving average price is $42.44. Bank of America Co. has a one year low of $31.40 and a one year high of $48.08. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80.

Bank of America (NYSE:BAC) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. 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 for the quarter, compared to analyst estimates of $25.12 billion. During the same quarter last year, the firm posted $0.70 EPS. The company’s revenue was up 15.0% on a year-over-year basis. As a group, analysts expect that Bank of America Co. will post 3.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley boosted their price objective on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday. Oppenheimer upped their price target on shares of Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Friday. Evercore ISI lowered their price objective on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

Bank of America 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.