Lockerman Financial Group Inc. Has $356,000 Position in Bank of America Co. (NYSE:BAC)

Lockerman Financial Group Inc. lifted its holdings in shares of Bank of America Co. (NYSE:BAC) by 6.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,101 shares of the financial services provider’s stock after acquiring an additional 511 shares during the period. Lockerman Financial Group Inc.’s holdings in Bank of America were worth $356,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Kennebec Savings Bank bought a new position in Bank of America during the 3rd quarter worth approximately $29,000. Highline Wealth Partners LLC increased its position 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 in the last quarter. Christopher J. Hasenberg Inc lifted its holdings in Bank of America by 525.9% during 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 in the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Bank of America in the fourth quarter worth about $42,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Bank of America in the third quarter valued at approximately $45,000. Institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

BAC stock opened at $46.54 on Tuesday. The company’s 50-day moving average price is $45.80 and its two-hundred day moving average price is $42.48. Bank of America Co. has a 12 month low of $31.40 and a 12 month high of $48.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm has a market cap of $357.13 billion, a P/E ratio of 14.45, a P/E/G ratio of 1.27 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, beating the consensus estimate of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same period in the previous year, the business earned $0.70 earnings per share. The company’s revenue was up 15.0% on a year-over-year basis. On average, analysts anticipate that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BAC shares. 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. Keefe, Bruyette & Woods lifted their price target on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. Oppenheimer increased their price target on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Piper Sandler dropped their price objective on Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $48.58.

About Bank of America

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.