Bank of America Co. (NYSE:BAC) Shares Acquired by Integrated Investment Consultants LLC

Integrated Investment Consultants LLC boosted its stake in Bank of America Co. (NYSE:BAC) by 96.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,462 shares of the financial services provider’s stock after buying an additional 34,065 shares during the period. Integrated Investment Consultants LLC’s holdings in Bank of America were worth $3,053,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BAC. Edgestream Partners L.P. bought a new stake in shares of Bank of America in the 2nd quarter worth $257,000. Ieq Capital LLC grew its holdings in Bank of America by 17.2% during the second quarter. Ieq Capital LLC now owns 305,830 shares of the financial services provider’s stock worth $12,163,000 after acquiring an additional 44,821 shares during the period. GM Advisory Group LLC raised its position in Bank of America by 1.3% in the second quarter. GM Advisory Group LLC now owns 35,567 shares of the financial services provider’s stock worth $1,414,000 after acquiring an additional 446 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Bank of America by 7.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 97,751 shares of the financial services provider’s stock valued at $3,887,000 after acquiring an additional 6,385 shares during the last quarter. Finally, Callan Capital LLC boosted its position in shares of Bank of America by 8.1% during the 2nd quarter. Callan Capital LLC now owns 26,871 shares of the financial services provider’s stock valued at $1,069,000 after purchasing an additional 2,019 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Truist Financial increased their target price on shares of Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday. Keefe, Bruyette & Woods lifted their target price on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Phillip Securities raised Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price on the stock in a research report on Friday, October 18th. Barclays boosted their price objective on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. One investment 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, Bank of America currently has a consensus rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Stock Down 0.2 %

Shares of BAC opened at $46.54 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80. The company has a 50-day simple moving average of $45.76 and a 200-day simple moving average of $42.37. 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 16.93, a P/E/G ratio of 1.23 and a beta of 1.33.

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