Bank of America Co. (NYSE:BAC) Shares Sold by 1834 Investment Advisors Co.

1834 Investment Advisors Co. decreased its stake in shares of Bank of America Co. (NYSE:BAC) by 13.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,134 shares of the financial services provider’s stock after selling 1,280 shares during the quarter. 1834 Investment Advisors Co.’s holdings in Bank of America were worth $357,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Kennebec Savings Bank acquired a new stake in Bank of America during the 3rd quarter worth about $29,000. Highline Wealth Partners LLC raised 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 purchasing an additional 510 shares during the last quarter. Christopher J. Hasenberg Inc lifted 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 stake in Bank of America in 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 worth approximately $45,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

NYSE:BAC opened at $46.48 on Monday. Bank of America Co. has a one year low of $32.35 and a one year high of $48.08. The stock has a market cap of $356.60 billion, a PE 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 quick ratio of 0.78 and a current ratio of 0.78. The stock has a 50 day moving average price of $45.82 and a 200 day moving average price of $42.62.

Bank of America (NYSE:BAC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 10.29% and a net margin of 14.10%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.70 EPS. Equities research analysts expect that Bank of America Co. will post 3.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on BAC shares. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Morgan Stanley boosted their target price on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. Truist Financial increased their price target on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.