Bank of America Co. (NYSE:BAC) Shares Bought by Woodstock Corp

Woodstock Corp lifted its stake in shares of Bank of America Co. (NYSE:BAC) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 159,727 shares of the financial services provider’s stock after buying an additional 981 shares during the quarter. Woodstock Corp’s holdings in Bank of America were worth $7,020,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BAC. Accent Capital Management LLC increased its position in shares of Bank of America by 43.0% during the third quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider’s stock worth $1,567,000 after purchasing an additional 11,873 shares in the last quarter. Summit Global Investments increased its position in Bank of America by 237.6% during the third quarter. Summit Global Investments now owns 51,278 shares of the financial services provider’s stock worth $2,035,000 after buying an additional 36,089 shares during the period. Geode Capital Management LLC lifted its stake in Bank of America by 1.2% in the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock valued at $5,546,871,000 after buying an additional 1,700,141 shares during the last quarter. Baker Avenue Asset Management LP boosted its holdings in shares of Bank of America by 125.8% in the third quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider’s stock valued at $2,421,000 after acquiring an additional 33,983 shares during the period. Finally, Copley Financial Group Inc. purchased a new position in shares of Bank of America during the third quarter worth approximately $550,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BAC has been the subject of several research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price target on shares of Bank of America in a research report on Wednesday, October 9th. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price for the company in a report on Friday, October 18th. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and increased their target price for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price target on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Truist Financial assumed coverage on Bank of America in a research report on Tuesday, January 7th. They set a “buy” rating and a $52.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.18.

Bank of America Price Performance

Shares of NYSE:BAC opened at $46.65 on Friday. The firm has a market capitalization of $357.91 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. The business’s 50 day simple moving average is $45.72 and its 200-day simple moving average is $42.34. Bank of America Co. has a 12 month low of $31.27 and a 12 month high of $48.08.

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