Bank of America Co. (NYSE:BAC) Shares Purchased by Cottonwood Capital Advisors LLC

Cottonwood Capital Advisors LLC boosted its holdings in Bank of America Co. (NYSE:BAC) by 37.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,844 shares of the financial services provider’s stock after buying an additional 2,938 shares during the quarter. Cottonwood Capital Advisors LLC’s holdings in Bank of America were worth $477,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Eclectic Associates Inc. ADV purchased a new position in Bank of America during the 4th quarter worth approximately $201,000. Curated Wealth Partners LLC grew its position in Bank of America by 0.8% during the 4th quarter. Curated Wealth Partners LLC now owns 32,359 shares of the financial services provider’s stock worth $1,422,000 after purchasing an additional 248 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its position in Bank of America by 11.5% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 68,955 shares of the financial services provider’s stock worth $3,031,000 after purchasing an additional 7,133 shares in the last quarter. Encompass More Asset Management grew its position in Bank of America by 11.3% during the 4th quarter. Encompass More Asset Management now owns 8,686 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 884 shares in the last quarter. Finally, Southland Equity Partners LLC grew its position in Bank of America by 2.6% during the 4th quarter. Southland Equity Partners LLC now owns 9,016 shares of the financial services provider’s stock worth $396,000 after purchasing an additional 231 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Up 0.2 %

Bank of America stock opened at $46.48 on Friday. The firm has a market cap of $356.60 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 1.24 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. Bank of America Co. has a fifty-two week low of $32.35 and a fifty-two week high of $48.08. The firm has a fifty day moving average price of $45.82 and a two-hundred day moving average price of $42.57.

Bank of America (NYSE:BAC) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share 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 firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the previous year, the business earned $0.70 EPS. The business’s revenue was up 15.0% on a year-over-year basis. As a group, analysts forecast that Bank of America Co. will post 3.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BAC. Morgan Stanley lifted their price objective on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Wells Fargo & Company boosted their price target on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Piper Sandler lowered their price target on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Barclays boosted their price target 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $46.00 price target on shares of Bank of America in a report on Wednesday, October 9th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.