Foster Victor Wealth Advisors LLC Acquires 470 Shares of Bank of America Co. (NYSE:BAC)

Foster Victor Wealth Advisors LLC increased its holdings in shares of Bank of America Co. (NYSE:BAC) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,588 shares of the financial services provider’s stock after acquiring an additional 470 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in Bank of America were worth $586,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Robeco Institutional Asset Management B.V. raised its stake in shares of Bank of America by 2.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 9,667,345 shares of the financial services provider’s stock worth $424,880,000 after purchasing an additional 269,390 shares during the period. Sumitomo Life Insurance Co. increased its holdings in Bank of America by 9.9% during the fourth quarter. Sumitomo Life Insurance Co. now owns 179,185 shares of the financial services provider’s stock worth $7,875,000 after buying an additional 16,159 shares during the last quarter. R Squared Ltd bought a new stake in Bank of America in the fourth quarter worth about $84,000. Gateway Wealth Partners LLC boosted its stake in Bank of America by 133.4% in the fourth quarter. Gateway Wealth Partners LLC now owns 39,221 shares of the financial services provider’s stock valued at $1,724,000 after acquiring an additional 22,420 shares during the last quarter. Finally, Capital Investment Counsel LLC bought a new position in shares of Bank of America during the 4th quarter valued at approximately $302,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of BAC opened at $46.88 on Wednesday. Bank of America Co. has a 12-month low of $32.35 and a 12-month high of $48.08. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The company has a market cap of $359.70 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. The stock has a 50-day moving average price of $45.83 and a 200-day moving average price of $42.70.

Bank of America (NYSE:BAC) last announced 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 business had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. Bank of America’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.70 earnings per share. As a group, equities analysts forecast that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on BAC shares. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the company from $46.00 to $54.00 in a research note on Friday, November 8th. StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $43.00 to $53.00 in a report on Tuesday, January 7th. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Evercore ISI cut their target price on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus 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.