Mountain Pacific Investment Advisers LLC Acquires 1,043 Shares of Bank of America Co. (NYSE:BAC)

Mountain Pacific Investment Advisers LLC lifted its stake in Bank of America Co. (NYSE:BAC) by 10.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,786 shares of the financial services provider’s stock after purchasing an additional 1,043 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Bank of America were worth $474,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Edgestream Partners L.P. purchased a new stake in shares of Bank of America in the second quarter valued at approximately $257,000. Pacer Advisors Inc. raised its position in Bank of America by 2.7% during the 2nd quarter. Pacer Advisors Inc. now owns 484,549 shares of the financial services provider’s stock valued at $19,271,000 after purchasing an additional 12,611 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Bank of America by 186.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 66,881 shares of the financial services provider’s stock valued at $2,660,000 after purchasing an additional 43,552 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Bank of America by 2.6% in the 2nd quarter. ProShare Advisors LLC now owns 1,412,331 shares of the financial services provider’s stock worth $56,168,000 after buying an additional 35,450 shares during the period. Finally, Mount Yale Investment Advisors LLC grew its position in shares of Bank of America by 20.7% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 7,557 shares of the financial services provider’s stock worth $301,000 after buying an additional 1,297 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Down 0.2 %

Bank of America stock opened at $46.54 on Tuesday. The business has a 50 day simple moving average of $45.79 and a 200-day simple moving average of $42.44. Bank of America Co. has a 12 month low of $31.40 and a 12 month high of $48.08. The stock has a market capitalization of $357.13 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 1.23 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.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. The business had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same period last year, the firm posted $0.70 earnings per share. On average, analysts anticipate that Bank of America Co. will post 3.24 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BAC shares. Truist Financial lifted their price objective on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday. Oppenheimer upped their price target on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday. Barclays lifted their price objective on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods increased 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. Finally, Phillip Securities upgraded Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target on the stock in a report on Friday, October 18th. One investment 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

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.