Bank of America Co. (NYSE:BAC) Shares Sold by Financial Partners Group LLC

Financial Partners Group LLC lowered its position in shares of Bank of America Co. (NYSE:BAC) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,393 shares of the financial services provider’s stock after selling 2,306 shares during the quarter. Bank of America makes up approximately 0.9% of Financial Partners Group LLC’s holdings, making the stock its 28th biggest holding. Financial Partners Group LLC’s holdings in Bank of America were worth $2,083,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in Bank of America by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock valued at $5,546,871,000 after buying an additional 1,700,141 shares during the period. Legal & General Group Plc grew its holdings in Bank of America by 1.6% in the second quarter. Legal & General Group Plc now owns 57,539,506 shares of the financial services provider’s stock valued at $2,288,347,000 after purchasing an additional 895,884 shares during the period. Fisher Asset Management LLC increased its position in Bank of America by 4.0% during the third quarter. Fisher Asset Management LLC now owns 45,215,832 shares of the financial services provider’s stock worth $1,794,164,000 after purchasing an additional 1,731,003 shares during the last quarter. Sanders Capital LLC raised its stake in Bank of America by 2.8% during the third quarter. Sanders Capital LLC now owns 22,341,213 shares of the financial services provider’s stock worth $886,499,000 after purchasing an additional 601,211 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its holdings in shares of Bank of America by 0.4% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 17,042,952 shares of the financial services provider’s stock valued at $676,264,000 after purchasing an additional 59,853 shares during the last quarter. 70.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Truist Financial raised their price objective on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 price objective on shares of Bank of America in a research report on Wednesday, October 9th. Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price on the stock in a report on Friday, October 18th. Oppenheimer increased their price target on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Finally, Evercore ISI reduced their price objective on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Trading Up 1.4 %

Shares of NYSE:BAC opened at $46.41 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The stock’s 50-day moving average is $45.81 and its 200-day moving average is $42.55. The company has a market cap of $356.13 billion, a P/E ratio of 14.41, a P/E/G ratio of 1.24 and a beta of 1.33. Bank of America Co. has a 52-week low of $32.35 and a 52-week high of $48.08.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.70 EPS. Equities research analysts predict that Bank of America Co. will post 3.67 earnings per share for the current year.

Bank of America 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.