18,156 Shares in Bank of America Co. (NYSE:BAC) Purchased by Clarendon Private LLC

Clarendon Private LLC acquired a new stake in shares of Bank of America Co. (NYSE:BAC) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 18,156 shares of the financial services provider’s stock, valued at approximately $798,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in BAC. Kennebec Savings Bank purchased a new stake in Bank of America in the 3rd quarter worth about $29,000. Highline Wealth Partners LLC lifted its position 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 purchasing an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc boosted its holdings 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 during the period. Retirement Wealth Solutions LLC purchased a new position in Bank of America during the fourth quarter valued at approximately $42,000. Finally, Northwest Investment Counselors LLC acquired a new position in Bank of America in the 3rd quarter valued at approximately $45,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Stock Up 0.2 %

Shares of BAC opened at $46.48 on Friday. The firm has a market capitalization of $356.60 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 1.24 and a beta of 1.33. Bank of America Co. has a 52 week low of $32.35 and a 52 week high of $48.08. 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 fifty day moving average price is $45.82 and its two-hundred day moving average price is $42.61.

Bank of America (NYSE:BAC) last announced its quarterly earnings data 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 firm 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 14.10% and a return on equity of 10.29%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period last year, the firm earned $0.70 earnings per share. On average, analysts predict that Bank of America Co. will post 3.67 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on BAC shares. Truist Financial boosted their price target on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, January 17th. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Tuesday, January 7th. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. UBS Group raised 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 report on Tuesday, January 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 price target on shares of Bank of America in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and a consensus target price of $48.58.

About Bank of America

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.