Aspiriant LLC Increases Holdings in Bank of America Co. (NYSE:BAC)

by · The Markets Daily

Aspiriant LLC raised its holdings in Bank of America Co. (NYSE:BAC) by 4.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 36,278 shares of the financial services provider’s stock after acquiring an additional 1,588 shares during the period. Aspiriant LLC’s holdings in Bank of America were worth $1,594,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kennebec Savings Bank bought a new stake in shares of Bank of America during the 3rd quarter valued at about $29,000. Highline Wealth Partners LLC grew its position in Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 510 shares during the last quarter. Retirement Wealth Solutions LLC bought a new position in Bank of America during the 4th quarter valued at approximately $42,000. Christopher J. Hasenberg Inc raised its position in Bank of America by 525.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 852 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in Bank of America during the 3rd quarter valued at approximately $45,000. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on BAC. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Piper Sandler dropped their target price on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Friday. Wells Fargo & Company upped their target price on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Barclays lifted their price target on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Evercore ISI reduced their price target on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

Check Out Our Latest Analysis on Bank of America

Bank of America Price Performance

Shares of NYSE:BAC opened at $46.54 on Tuesday. 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 1-year low of $31.40 and a 1-year high of $48.08. The company has a market capitalization of $357.13 billion, a P/E ratio of 14.45, a P/E/G ratio of 1.27 and a beta of 1.33. The firm’s 50 day simple moving average is $45.79 and its two-hundred day simple moving average is $42.44.

Bank of America (NYSE:BAC – Get Free Report) 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. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same period last year, the firm posted $0.70 EPS. The company’s revenue was up 15.0% on a year-over-year basis. Research analysts expect that Bank of America Co. will post 3.67 EPS for the current fiscal year.

Bank of America Profile

(Free Report)

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.

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