BluePath Capital Management LLC Has $1.18 Million Stock Position in Bank of America Co. (NYSE:BAC)

BluePath Capital Management LLC increased its stake in shares of Bank of America Co. (NYSE:BAC) by 20.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,119 shares of the financial services provider’s stock after purchasing an additional 4,391 shares during the period. BluePath Capital Management LLC’s holdings in Bank of America were worth $1,177,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kennebec Savings Bank acquired a new position in Bank of America in the third quarter valued at about $29,000. Highline Wealth Partners LLC increased its stake in Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after buying an additional 510 shares during the last quarter. Christopher J. Hasenberg Inc raised its holdings 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 in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Bank of America in the 3rd quarter valued at approximately $45,000. Finally, Truvestments Capital LLC bought a new position in shares of Bank of America in the third quarter valued at $73,000. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Up 3.2 %

Shares of NYSE BAC opened at $47.23 on Thursday. The stock has a market cap of $362.39 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. The firm has a 50 day moving average price of $45.69 and a two-hundred day moving average price of $42.31. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80. Bank of America Co. has a 52-week low of $31.27 and a 52-week high of $48.08.

Bank of America (NYSE:BAC) last announced its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.03. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The business had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.25 billion. During the same period last year, the company earned $0.90 EPS. Bank of America’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, equities analysts forecast that Bank of America Co. will post 3.24 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on BAC shares. Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target for the company in a research note on Friday, October 18th. Royal Bank of Canada restated an “outperform” rating and set a $46.00 target price on shares of Bank of America in a research note on Wednesday, October 9th. Piper Sandler upped their price target on shares of Bank of America from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. 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. Finally, Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.50.

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.