Koshinski Asset Management Inc. Has $2.63 Million Position in Bank of America Co. (NYSE:BAC)

Koshinski Asset Management Inc. lessened its position in Bank of America Co. (NYSE:BAC) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,754 shares of the financial services provider’s stock after selling 1,291 shares during the period. Koshinski Asset Management Inc.’s holdings in Bank of America were worth $2,626,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Accent Capital Management LLC grew its position in shares of Bank of America by 43.0% in the 3rd quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider’s stock valued at $1,567,000 after purchasing an additional 11,873 shares during the period. Summit Global Investments raised its holdings in Bank of America by 237.6% during the 3rd quarter. Summit Global Investments now owns 51,278 shares of the financial services provider’s stock worth $2,035,000 after buying an additional 36,089 shares during the period. Geode Capital Management LLC lifted its stake in Bank of America by 1.2% in the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock valued at $5,546,871,000 after buying an additional 1,700,141 shares in the last quarter. Baker Avenue Asset Management LP boosted its holdings in shares of Bank of America by 125.8% in the third quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider’s stock valued at $2,421,000 after buying an additional 33,983 shares during the period. Finally, Copley Financial Group Inc. acquired a new stake in shares of Bank of America during the third quarter worth $550,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Keefe, Bruyette & Woods lifted their target price on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Trading Down 0.2 %

BAC stock opened at $46.54 on Tuesday. The stock has a market cap of $357.13 billion, a price-to-earnings ratio of 14.45, a price-to-earnings-growth ratio of 1.27 and a beta of 1.33. The company has a fifty day moving average price of $45.79 and a two-hundred day moving average price of $42.44. Bank of America Co. has a one year low of $31.40 and a one year high of $48.08. 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 (NYSE:BAC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 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 for the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the prior year, the business earned $0.70 EPS. Bank of America’s quarterly revenue was up 15.0% on a year-over-year basis. Equities analysts anticipate that Bank of America Co. will post 3.67 EPS for the current year.

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.