First Pacific Financial Has $239,000 Stock Holdings in Bank of America Co. (NYSE:BAC)

First Pacific Financial boosted its position in shares of Bank of America Co. (NYSE:BAC) by 6.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,428 shares of the financial services provider’s stock after purchasing an additional 312 shares during the quarter. First Pacific Financial’s holdings in Bank of America were worth $239,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Kennebec Savings Bank bought a new position in Bank of America during the 3rd quarter worth approximately $29,000. Highline Wealth Partners LLC grew its position in Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc boosted its stake in shares of Bank of America by 525.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after buying an additional 852 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in Bank of America during the third quarter worth about $45,000. Finally, Truvestments Capital LLC acquired a new position in shares of Bank of America during the 3rd quarter worth approximately $73,000. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

BAC stock opened at $46.65 on Friday. Bank of America Co. has a 1 year low of $31.27 and a 1 year high of $48.08. The stock’s fifty day moving average price is $45.72 and its 200-day moving average price is $42.34. 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 company has a market cap of $357.91 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The business had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. Bank of America’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, equities analysts forecast that Bank of America Co. will post 3.24 earnings per share for the current year.

Wall Street Analyst Weigh In

BAC has been the topic of a number of recent analyst reports. StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Truist Financial initiated coverage on Bank of America in a research report on Tuesday, January 7th. They issued a “buy” rating and a $52.00 target price on the stock. Oppenheimer lowered their price objective on Bank of America from $57.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Piper Sandler boosted their price objective on shares of Bank of America from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.18.

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.