Bank of America Co. (NYSE:BAC) Shares Sold by Great Waters Wealth Management

Great Waters Wealth Management lessened its position in Bank of America Co. (NYSE:BAC) by 8.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,927 shares of the financial services provider’s stock after selling 440 shares during the period. Great Waters Wealth Management’s holdings in Bank of America were worth $217,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BAC. Geode Capital Management LLC lifted its position in 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 purchasing an additional 1,700,141 shares during the period. Legal & General Group Plc increased its position in Bank of America by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 57,539,506 shares of the financial services provider’s stock worth $2,288,347,000 after purchasing an additional 895,884 shares during the period. Fisher Asset Management LLC raised its stake in shares of Bank of America by 4.0% during the 3rd quarter. Fisher Asset Management LLC now owns 45,215,832 shares of the financial services provider’s stock worth $1,794,164,000 after buying an additional 1,731,003 shares in the last quarter. Sanders Capital LLC lifted its holdings in shares of Bank of America by 2.8% in the 3rd quarter. Sanders Capital LLC now owns 22,341,213 shares of the financial services provider’s stock valued at $886,499,000 after buying an additional 601,211 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its stake in shares of Bank of America by 0.4% in the third quarter. Diamond Hill Capital Management Inc. now owns 17,042,952 shares of the financial services provider’s stock valued at $676,264,000 after buying an additional 59,853 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

BAC has been the topic of a number of recent analyst reports. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and upped their price target for the stock from $46.00 to $54.00 in a research note on Friday, November 8th. Oppenheimer upped their target price on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday. Evercore ISI dropped their target price on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Friday. Piper Sandler decreased their price target on Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. One 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Stock Performance

Bank of America stock opened at $46.54 on Tuesday. The stock has a fifty day moving average price of $45.80 and a 200 day moving average price of $42.48. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 52 week low of $31.40 and a 52 week high of $48.08. The firm has a market capitalization of $357.13 billion, a P/E ratio of 14.45, a PEG ratio of 1.27 and a beta of 1.33.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter in the prior year, the company posted $0.70 EPS. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. Equities research analysts anticipate that Bank of America Co. will post 3.67 earnings per share for the current year.

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.