Bank of America Co. (NYSE:BAC) Holdings Raised by Swedbank AB

Swedbank AB boosted its position in Bank of America Co. (NYSE:BAC) by 81.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,776,184 shares of the financial services provider’s stock after purchasing an additional 5,733,810 shares during the period. Bank of America makes up about 0.7% of Swedbank AB’s portfolio, making the stock its 26th largest holding. Swedbank AB’s holdings in Bank of America were worth $561,513,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Kennebec Savings Bank acquired a new position in Bank of America in the third quarter worth approximately $29,000. Highline Wealth Partners LLC lifted its stake 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 boosted its holdings in shares of Bank of America by 525.9% in 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. Retirement Wealth Solutions LLC purchased a new stake in shares of Bank of America in the 4th quarter valued at approximately $42,000. Finally, Northwest Investment Counselors LLC acquired a new position in Bank of America in the 3rd quarter worth approximately $45,000. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of Bank of America stock traded up $0.27 on Wednesday, reaching $47.11. The stock had a trading volume of 2,183,889 shares, compared to its average volume of 36,424,945. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The business’s 50-day moving average price is $45.83 and its two-hundred day moving average price is $42.70. The stock has a market cap of $361.49 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. Bank of America Co. has a fifty-two week low of $32.35 and a fifty-two week high of $48.08.

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, beating analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 earnings per share. On average, sell-side analysts forecast that Bank of America Co. will post 3.67 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on BAC. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. Wells Fargo & Company upped their price target on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Keefe, Bruyette & Woods lifted their target price on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 target price on shares of Bank of America in a report on Wednesday, October 9th. Finally, HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, January 7th. 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America 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.