Bank of America Co. (NYSE:BAC) Shares Sold by Fiduciary Financial Group LLC

Fiduciary Financial Group LLC trimmed its position in Bank of America Co. (NYSE:BAC) by 6.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,271 shares of the financial services provider’s stock after selling 1,187 shares during the quarter. Fiduciary Financial Group LLC’s holdings in Bank of America were worth $824,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BAC. Fairway Wealth LLC acquired a new position in Bank of America in the 2nd quarter valued at $27,000. Kennebec Savings Bank acquired a new stake in shares of Bank of America in the third quarter valued at about $29,000. Highline Wealth Partners LLC lifted 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 buying an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc boosted its position in 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 acquiring an additional 852 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in Bank of America during the 3rd quarter valued at about $45,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Bank of America Stock Performance

NYSE:BAC opened at $45.88 on Wednesday. The firm has a market capitalization of $352.03 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.55 and a beta of 1.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. The business’s fifty day moving average price is $45.69 and its 200 day moving average price is $42.31. Bank of America Co. has a 12 month low of $31.27 and a 12 month high of $48.08.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.78 by $0.03. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The company had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.25 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The firm’s revenue was up .4% on a year-over-year basis. On average, sell-side analysts anticipate that Bank of America Co. will post 3.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on BAC. Truist Financial started coverage on shares of Bank of America in a research note on Tuesday, January 7th. They issued a “buy” rating and a $52.00 target price on the stock. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. Morgan Stanley cut Bank of America from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $48.00 to $55.00 in a report on Monday, December 9th. Wells Fargo & Company boosted 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 report on Friday, November 15th. Finally, Oppenheimer cut their price objective on shares of Bank of America from $57.00 to $54.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and an average target price of $47.50.

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.