Decker Retirement Planning Inc. Invests $363,000 in Bank of America Co. (NYSE:BAC)

Decker Retirement Planning Inc. bought a new stake in Bank of America Co. (NYSE:BAC) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 8,255 shares of the financial services provider’s stock, valued at approximately $363,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Empirical Asset Management LLC increased its holdings in shares of Bank of America by 47.8% in the 4th quarter. Empirical Asset Management LLC now owns 45,096 shares of the financial services provider’s stock valued at $1,982,000 after acquiring an additional 14,576 shares during the period. Cypress Wealth Services LLC grew its position in Bank of America by 5.5% during the 4th quarter. Cypress Wealth Services LLC now owns 11,755 shares of the financial services provider’s stock worth $517,000 after purchasing an additional 608 shares during the last quarter. Ritholtz Wealth Management grew its position in Bank of America by 3.6% during the 4th quarter. Ritholtz Wealth Management now owns 180,532 shares of the financial services provider’s stock worth $7,934,000 after purchasing an additional 6,357 shares during the last quarter. Gateway Investment Advisers LLC increased its stake in Bank of America by 1.2% in the fourth quarter. Gateway Investment Advisers LLC now owns 2,132,413 shares of the financial services provider’s stock valued at $93,720,000 after purchasing an additional 25,070 shares during the period. Finally, Mason & Associates Inc purchased a new stake in shares of Bank of America in the fourth quarter valued at about $210,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on BAC. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Barclays lifted their target price on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 6th. 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 research report on Friday, October 18th. Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and a consensus target price of $48.18.

Bank of America Stock Down 1.0 %

Shares of NYSE:BAC opened at $46.65 on Friday. The company has a market capitalization of $357.91 billion, a P/E ratio of 16.96, a P/E/G ratio of 1.23 and a beta of 1.33. The stock’s fifty day simple moving average is $45.72 and its 200-day simple moving average is $42.34. Bank of America Co. has a 52-week low of $31.27 and a 52-week high of $48.08. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period last year, the company earned $0.70 EPS. As a group, equities research analysts forecast that Bank of America Co. will post 3.24 earnings per share for the current fiscal 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.