Bensler LLC Invests $241,000 in Bank of America Co. (NYSE:BAC)

Bensler LLC acquired a new stake in Bank of America Co. (NYSE:BAC) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 5,480 shares of the financial services provider’s stock, valued at approximately $241,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Two Sigma Advisers LP boosted its position in shares of Bank of America by 31,021.6% during the 3rd quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider’s stock worth $405,049,000 after purchasing an additional 10,175,100 shares in the last quarter. KBC Group NV raised its stake in Bank of America by 130.9% during the 4th quarter. KBC Group NV now owns 9,692,279 shares of the financial services provider’s stock worth $425,976,000 after buying an additional 5,493,817 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in Bank of America by 193.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider’s stock valued at $301,898,000 after acquiring an additional 5,015,378 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Bank of America by 3,550.7% during the third quarter. International Assets Investment Management LLC now owns 4,547,788 shares of the financial services provider’s stock valued at $1,804,560,000 after acquiring an additional 4,423,215 shares in the last quarter. Finally, D1 Capital Partners L.P. acquired a new position in shares of Bank of America during the third quarter worth approximately $174,858,000. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Down 0.4 %

BAC opened at $46.88 on Wednesday. Bank of America Co. has a twelve month low of $32.35 and a twelve month high of $48.08. The company’s 50-day moving average price is $45.82 and its two-hundred day moving average price is $42.67. The stock has a market cap of $359.70 billion, a price-to-earnings ratio of 14.56, a PEG 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 posted 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 return on equity of 10.29% and a net margin of 14.10%. The business had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. Bank of America’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, equities analysts expect that Bank of America Co. will post 3.67 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Evercore ISI reduced 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 research report on Friday, January 17th. Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective for the company in a report on Friday, October 18th. Barclays boosted their target price on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Finally, Wells Fargo & Company boosted their price objective on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.