Bank of America Co. (NYSE:BAC) Shares Sold by Jeppson Wealth Management LLC

Jeppson Wealth Management LLC lessened its position in shares of Bank of America Co. (NYSE:BAC) by 0.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,626 shares of the financial services provider’s stock after selling 281 shares during the quarter. Bank of America makes up about 0.9% of Jeppson Wealth Management LLC’s holdings, making the stock its 25th largest position. Jeppson Wealth Management LLC’s holdings in Bank of America were worth $2,357,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Accent Capital Management LLC increased its position in Bank of America by 43.0% during the 3rd quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider’s stock worth $1,567,000 after purchasing an additional 11,873 shares in the last quarter. Summit Global Investments grew its holdings in shares of Bank of America by 237.6% during the third quarter. Summit Global Investments now owns 51,278 shares of the financial services provider’s stock worth $2,035,000 after buying an additional 36,089 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Bank of America by 1.2% in the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock valued at $5,546,871,000 after buying an additional 1,700,141 shares during the last quarter. Baker Avenue Asset Management LP lifted its stake in shares of Bank of America by 125.8% during the third quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider’s stock valued at $2,421,000 after buying an additional 33,983 shares during the period. Finally, Clarendon Private LLC acquired a new stake in Bank of America during the fourth quarter worth approximately $798,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Price Performance

Shares of BAC stock opened at $47.06 on Tuesday. Bank of America Co. has a twelve month low of $32.35 and a twelve month high of $48.08. The company has a market capitalization of $361.10 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm has a fifty day simple moving average of $45.82 and a 200-day simple moving average of $42.63.

Bank of America (NYSE:BAC) last announced 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. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same period last year, the firm earned $0.70 earnings per share. The company’s revenue was up 15.0% on a year-over-year basis. Equities research analysts anticipate that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BAC shares. Citigroup raised 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 research note on Friday, November 8th. Oppenheimer raised their price target on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One research 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 stock. According to MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and a consensus 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.