Financial Management Professionals Inc. Purchases 805 Shares of Bank of America Co. (NYSE:BAC)

Financial Management Professionals Inc. increased its holdings in shares of Bank of America Co. (NYSE:BAC) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,411 shares of the financial services provider’s stock after acquiring an additional 805 shares during the quarter. Financial Management Professionals Inc.’s holdings in Bank of America were worth $502,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BAC. Two Sigma Advisers LP boosted its holdings in Bank of America by 31,021.6% in the 3rd quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider’s stock valued at $405,049,000 after purchasing an additional 10,175,100 shares during the period. 1832 Asset Management L.P. grew its position in Bank of America by 1,432.1% during the second quarter. 1832 Asset Management L.P. now owns 6,151,042 shares of the financial services provider’s stock worth $244,627,000 after buying an additional 5,749,567 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in Bank of America by 193.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider’s stock worth $301,898,000 after acquiring an additional 5,015,378 shares during the period. International Assets Investment Management LLC increased its stake in Bank of America by 3,550.7% during the 3rd quarter. International Assets Investment Management LLC now owns 4,547,788 shares of the financial services provider’s stock worth $1,804,560,000 after acquiring an additional 4,423,215 shares during the period. Finally, D1 Capital Partners L.P. acquired a new position in Bank of America in the 3rd quarter valued at $174,858,000. 70.71% of the stock is owned by institutional investors.

Bank of America Trading Down 0.2 %

NYSE:BAC opened at $46.54 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $357.13 billion, a price-to-earnings 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 one year low of $31.40 and a one year high of $48.08. The business has a fifty day moving average price of $45.79 and a 200-day moving average price of $42.42.

Bank of America (NYSE:BAC) last announced its quarterly 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 firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. Bank of America’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 EPS. Sell-side analysts forecast that Bank of America Co. will post 3.24 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BAC shares. Royal Bank of Canada restated an “outperform” rating and issued a $46.00 target price on shares of Bank of America in a research report on Wednesday, October 9th. 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 note on Friday. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Finally, Phillip Securities raised Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price for the company in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.