Patriot Financial Group Insurance Agency LLC Acquires 819 Shares of Bank of America Co. (NYSE:BAC)

Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Bank of America Co. (NYSE:BAC) by 1.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 55,802 shares of the financial services provider’s stock after purchasing an additional 819 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Bank of America were worth $2,452,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of BAC. VCI Wealth Management LLC boosted its position in shares of Bank of America by 22.2% during the fourth quarter. VCI Wealth Management LLC now owns 38,019 shares of the financial services provider’s stock worth $1,671,000 after buying an additional 6,918 shares during the period. Matrix Asset Advisors Inc. NY boosted its stake in shares of Bank of America by 912.6% during the 4th quarter. Matrix Asset Advisors Inc. NY now owns 63,801 shares of the financial services provider’s stock worth $2,804,000 after buying an additional 57,500 shares during the last quarter. Griffin Asset Management Inc. grew its holdings in shares of Bank of America by 5.4% in the 4th quarter. Griffin Asset Management Inc. now owns 343,197 shares of the financial services provider’s stock valued at $15,084,000 after acquiring an additional 17,579 shares in the last quarter. YHB Investment Advisors Inc. raised its holdings in Bank of America by 32.0% during the fourth quarter. YHB Investment Advisors Inc. now owns 20,285 shares of the financial services provider’s stock worth $892,000 after acquiring an additional 4,921 shares in the last quarter. Finally, Buffington Mohr McNeal grew its stake in Bank of America by 1.1% in the fourth quarter. Buffington Mohr McNeal now owns 197,468 shares of the financial services provider’s stock valued at $8,679,000 after purchasing an additional 2,229 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Evercore ISI dropped their price objective on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company increased their price target on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. Oppenheimer raised their price objective on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Finally, Piper Sandler cut their price target on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, January 17th. One investment 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Stock Down 0.1 %

Shares of NYSE BAC opened at $47.03 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm has a market cap of $360.82 billion, a PE ratio of 14.57, a P/E/G ratio of 1.24 and a beta of 1.33. The company’s fifty day simple moving average is $45.82 and its 200 day simple moving average is $42.63. Bank of America Co. has a 12-month low of $32.35 and a 12-month high of $48.08.

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, topping analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion for 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%. Bank of America’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the business earned $0.70 EPS. As a group, sell-side analysts forecast that Bank of America Co. will post 3.67 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.