RDA Financial Network Purchases 5,191 Shares of Bank of America Co. (NYSE:BAC)

RDA Financial Network lifted its position in shares of Bank of America Co. (NYSE:BAC) by 11.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,706 shares of the financial services provider’s stock after buying an additional 5,191 shares during the quarter. RDA Financial Network’s holdings in Bank of America were worth $2,185,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC grew its position in Bank of America by 1.2% during the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock worth $5,546,871,000 after buying an additional 1,700,141 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Bank of America by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 57,539,506 shares of the financial services provider’s stock valued at $2,288,347,000 after acquiring an additional 895,884 shares during the period. Fisher Asset Management LLC lifted its position in shares of Bank of America by 4.0% during the 3rd quarter. Fisher Asset Management LLC now owns 45,215,832 shares of the financial services provider’s stock valued at $1,794,164,000 after acquiring an additional 1,731,003 shares during the period. Sanders Capital LLC grew its holdings in shares of Bank of America by 2.8% during the 3rd quarter. Sanders Capital LLC now owns 22,341,213 shares of the financial services provider’s stock worth $886,499,000 after purchasing an additional 601,211 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its position in shares of Bank of America by 0.4% in the third quarter. Diamond Hill Capital Management Inc. now owns 17,042,952 shares of the financial services provider’s stock worth $676,264,000 after purchasing an additional 59,853 shares during the period. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Down 1.0 %

BAC opened at $46.65 on Friday. The company’s 50 day moving average price is $45.72 and its two-hundred day moving average price is $42.34. The firm has a market capitalization of $357.91 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 1.23 and a beta of 1.33. Bank of America Co. has a fifty-two week low of $31.27 and a fifty-two week high of $48.08. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80.

Bank of America (NYSE:BACGet Free Report) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate 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 net margin of 12.48% and a return on equity of 10.09%. Bank of America’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 earnings per share. As a group, research analysts predict that Bank of America Co. will post 3.24 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on BAC. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective for the company in a research report on Friday, October 18th. Evercore ISI increased their price target on shares of Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Wells Fargo & Company boosted their price objective 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. Keefe, Bruyette & Woods upped their target price on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Barclays lifted their price target on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.18.

View Our Latest Stock Report on Bank of America

Bank of America Company 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.

Further Reading

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Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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