Brighton Jones LLC Raises Stock Holdings in Bank of America Co. (NYSE:BAC)

Brighton Jones LLC grew its holdings in Bank of America Co. (NYSE:BAC) by 30.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,872 shares of the financial services provider’s stock after buying an additional 25,143 shares during the quarter. Brighton Jones LLC’s holdings in Bank of America were worth $4,785,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Marino Stram & Associates LLC raised its position in Bank of America by 1.7% during the fourth quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock worth $580,000 after acquiring an additional 222 shares during the period. Traveka Wealth LLC raised its position in shares of Bank of America by 2.7% during the 4th quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 226 shares during the last quarter. Longfellow Investment Management Co. LLC lifted its stake in Bank of America by 0.6% in the 3rd quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider’s stock valued at $1,484,000 after buying an additional 227 shares in the last quarter. Beacon Investment Advisory Services Inc. boosted its holdings in Bank of America by 1.1% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 20,863 shares of the financial services provider’s stock worth $828,000 after buying an additional 231 shares during the last quarter. Finally, Gemmer Asset Management LLC boosted its holdings in Bank of America by 1.8% in the 4th quarter. Gemmer Asset Management LLC now owns 13,183 shares of the financial services provider’s stock worth $579,000 after buying an additional 235 shares during the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BAC has been the topic of several research reports. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, January 7th. Barclays raised their price target on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and increased their price objective for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Finally, Morgan Stanley boosted their target price on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Stock Up 1.4 %

NYSE:BAC opened at $46.41 on Friday. Bank of America Co. has a 52 week low of $32.35 and a 52 week high of $48.08. The stock’s fifty day moving average is $45.81 and its two-hundred day moving average is $42.55. The stock has a market capitalization of $356.13 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate 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 10.29% and a net margin of 14.10%. Bank of America’s revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 EPS. Research analysts anticipate that Bank of America Co. will post 3.67 EPS 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.