Bank of America Co. (NYSE:BAC) Shares Acquired by Community Bank of Raymore

Community Bank of Raymore lifted its stake in shares of Bank of America Co. (NYSE:BAC) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,160 shares of the financial services provider’s stock after purchasing an additional 5,967 shares during the period. Bank of America comprises 4.7% of Community Bank of Raymore’s investment portfolio, making the stock its 4th biggest position. Community Bank of Raymore’s holdings in Bank of America were worth $5,984,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Kennebec Savings Bank purchased a new stake in Bank of America during the 3rd quarter valued at about $29,000. Highline Wealth Partners LLC grew its stake in shares of Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after buying an additional 510 shares during the period. Christopher J. Hasenberg Inc grew its stake in shares of Bank of America by 525.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after buying an additional 852 shares during the period. Retirement Wealth Solutions LLC purchased a new stake in shares of Bank of America in the 4th quarter valued at approximately $42,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Bank of America in the 3rd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Trading Down 0.2 %

Shares of Bank of America stock opened at $46.54 on Monday. The company’s fifty day simple moving average is $45.79 and its 200-day simple moving average is $42.43. The company has a market cap of $357.13 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 1.23 and a beta of 1.33. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09. Bank of America Co. has a 1 year low of $31.40 and a 1 year high of $48.08.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter in the previous year, the company earned $0.70 earnings per share. The business’s revenue was up 15.0% compared to the same quarter last year. As a group, sell-side analysts expect that Bank of America Co. will post 3.24 EPS for the current year.

Analyst Ratings Changes

BAC has been the subject of several analyst reports. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target for the company in a research note on Friday, October 18th. Barclays upped their price objective on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $46.00 price objective on shares of Bank of America in a report on Wednesday, October 9th. Truist Financial upped their price objective on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday. Finally, Oppenheimer upped their price objective on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday. One equities 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.