Bank of America Co. (NYSE:BAC) Shares Purchased by Kelleher Financial Advisors

Kelleher Financial Advisors grew its holdings in Bank of America Co. (NYSE:BAC) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,815 shares of the financial services provider’s stock after acquiring an additional 615 shares during the period. Bank of America comprises approximately 0.6% of Kelleher Financial Advisors’ portfolio, making the stock its 26th largest position. Kelleher Financial Advisors’ holdings in Bank of America were worth $1,574,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Kennebec Savings Bank acquired a new position in shares of Bank of America in the third quarter worth $29,000. Highline Wealth Partners LLC grew its stake in shares of Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 510 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Bank of America during the fourth quarter worth $42,000. Christopher J. Hasenberg Inc grew its stake in shares of 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 purchasing an additional 852 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Bank of America during the third quarter worth $45,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Trading Down 1.8 %

Shares of Bank of America stock opened at $45.80 on Thursday. Bank of America Co. has a 52-week low of $32.35 and a 52-week high of $48.08. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The company’s 50-day simple moving average is $45.81 and its 200-day simple moving average is $42.52. The firm has a market cap of $351.41 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 1.27 and a beta of 1.33.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same period in the previous year, the business posted $0.70 earnings per share. The business’s revenue was up 15.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Bank of America Co. will post 3.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BAC. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $46.00 to $54.00 in a research note on Friday, November 8th. Wells Fargo & Company boosted their target price on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley boosted their target price on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Piper Sandler reduced their price target on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Finally, UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their price target for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and a consensus target price of $48.58.

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.