Bank of America Co. (NYSE:BAC) Shares Bought by Baker Ellis Asset Management LLC

Baker Ellis Asset Management LLC raised its position in Bank of America Co. (NYSE:BAC) by 8.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,505 shares of the financial services provider’s stock after purchasing an additional 1,100 shares during the period. Baker Ellis Asset Management LLC’s holdings in Bank of America were worth $637,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Kennebec Savings Bank acquired a new stake in shares of Bank of America during the third quarter valued at $29,000. Highline Wealth Partners LLC boosted its stake in shares of 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 last quarter. Christopher J. Hasenberg Inc boosted its stake in shares of Bank of America by 525.9% during the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 852 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Bank of America during the fourth quarter valued at $42,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Bank of America during the third quarter valued at $45,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and increased their price objective for the company from $46.00 to $54.00 in a research note on Friday, November 8th. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. Evercore ISI reduced their target price on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Truist Financial increased their target price on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Oppenheimer increased 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, January 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Stock Performance

Shares of NYSE:BAC opened at $45.80 on Thursday. The company has a market cap of $351.41 billion, a P/E ratio of 14.22, a PEG ratio of 1.27 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. Bank of America Co. has a one year low of $32.35 and a one year high of $48.08. The business’s 50-day simple moving average is $45.81 and its 200 day simple moving average is $42.52.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.77 by $0.05. The business 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 10.29% and a net margin of 14.10%. The company’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the business posted $0.70 EPS. On average, sell-side analysts forecast that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

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.