Diversify Wealth Management LLC Purchases 22,511 Shares of Bank of America Co. (NYSE:BAC)

Diversify Wealth Management LLC lifted its holdings in Bank of America Co. (NYSE:BAC) by 41.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,379 shares of the financial services provider’s stock after acquiring an additional 22,511 shares during the quarter. Diversify Wealth Management LLC’s holdings in Bank of America were worth $3,491,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Kennebec Savings Bank bought a new stake in shares of Bank of America during the third quarter worth $29,000. Highline Wealth Partners LLC grew its holdings in Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 510 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in Bank of America in the 4th quarter valued at about $42,000. Christopher J. Hasenberg Inc raised its stake in shares of Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 852 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Bank of America during the third quarter worth approximately $45,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America Stock Down 0.2 %

NYSE:BAC opened at $46.54 on Monday. The stock 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. The stock has a 50-day moving average price of $45.79 and a two-hundred day moving average price of $42.43. 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 issued its quarterly earnings data 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 period in the previous year, the firm earned $0.70 EPS. Bank of America’s quarterly revenue was up 15.0% compared to the same quarter last year. As a group, equities analysts expect that Bank of America Co. will post 3.24 earnings per share for the current year.

Analyst Ratings Changes

BAC has been the subject of a number of research reports. Evercore ISI lowered their price target 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. Oppenheimer lifted their target price on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, January 7th. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Finally, Wells Fargo & Company raised their target price on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.