Cohen Investment Advisors LLC Decreases Holdings in Bank of America Co. (NYSE:BAC)

Cohen Investment Advisors LLC reduced its position in Bank of America Co. (NYSE:BAC) by 10.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,843 shares of the financial services provider’s stock after selling 8,361 shares during the period. Bank of America comprises 2.0% of Cohen Investment Advisors LLC’s investment portfolio, making the stock its 18th biggest position. Cohen Investment Advisors LLC’s holdings in Bank of America were worth $3,245,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Edgestream Partners L.P. acquired a new position in shares of Bank of America during the 2nd quarter worth $257,000. Miramar Capital LLC increased its holdings in Bank of America by 3.4% during the 2nd quarter. Miramar Capital LLC now owns 21,214 shares of the financial services provider’s stock valued at $844,000 after acquiring an additional 700 shares in the last quarter. Middleton & Co. Inc. MA raised its position in Bank of America by 8.8% during the second quarter. Middleton & Co. Inc. MA now owns 12,383 shares of the financial services provider’s stock worth $492,000 after acquiring an additional 1,000 shares during the last quarter. Intrepid Financial Planning Group LLC lifted its holdings in shares of Bank of America by 1.6% in the second quarter. Intrepid Financial Planning Group LLC now owns 24,397 shares of the financial services provider’s stock valued at $970,000 after purchasing an additional 374 shares in the last quarter. Finally, WCG Wealth Advisors LLC grew its position in shares of Bank of America by 6.7% in the second quarter. WCG Wealth Advisors LLC now owns 66,976 shares of the financial services provider’s stock valued at $2,664,000 after purchasing an additional 4,181 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Evercore ISI lifted their price objective on Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. Finally, Barclays raised their price target on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.18.

Bank of America Trading Down 1.0 %

NYSE BAC opened at $46.65 on Friday. The firm has a market capitalization of $357.91 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 1.23 and a beta of 1.33. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80. Bank of America Co. has a one year low of $31.27 and a one year high of $48.08. The company’s 50 day moving average price is $45.72 and its 200 day moving average price is $42.34.

Bank of America (NYSE:BAC) last posted 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 net margin of 12.48% and a return on equity of 10.09%. The business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the previous year, the business posted $0.70 EPS. The business’s quarterly revenue was up 15.0% on a year-over-year basis. On average, sell-side analysts predict that Bank of America Co. will post 3.24 EPS for the current year.

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.