Bank of America Co. (NYSE:BAC) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC boosted its position in Bank of America Co. (NYSE:BAC) by 21.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,256 shares of the financial services provider’s stock after acquiring an additional 27,383 shares during the quarter. Park Avenue Securities LLC’s holdings in Bank of America were worth $6,867,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Kennebec Savings Bank purchased a new stake in shares of Bank of America during the 3rd quarter worth about $29,000. Highline Wealth Partners LLC lifted its position in Bank of America by 152.7% during the fourth 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 grew its stake 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 buying an additional 852 shares during the period. Northwest Investment Counselors LLC purchased a new stake in Bank of America during the third quarter worth approximately $45,000. Finally, Truvestments Capital LLC purchased a new position in shares of Bank of America in the 3rd quarter valued at $73,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Trading Up 3.2 %

NYSE BAC opened at $47.23 on Thursday. The firm has a market capitalization of $362.39 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.55 and a beta of 1.33. Bank of America Co. has a one year low of $31.27 and a one year high of $48.08. The company has a 50-day simple moving average of $45.69 and a 200-day simple moving average of $42.31. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80.

Bank of America (NYSE:BAC) last posted its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. The company had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.25 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The business’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 earnings per share. On average, equities analysts forecast that Bank of America Co. will post 3.27 earnings per share for the current year.

Analysts Set New Price Targets

BAC has been the subject of a number of research reports. Barclays upped 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 report on Monday, January 6th. Oppenheimer reduced their target price on shares of Bank of America from $57.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Evercore ISI boosted their price objective on shares of Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.50.

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.