Accel Wealth Management Sells 1,093 Shares of Bank of America Co. (NYSE:BAC)

Accel Wealth Management trimmed its position in Bank of America Co. (NYSE:BAC) by 6.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,061 shares of the financial services provider’s stock after selling 1,093 shares during the period. Accel Wealth Management’s holdings in Bank of America were worth $750,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Kennebec Savings Bank purchased a new stake in Bank of America during the third quarter valued at about $29,000. Highline Wealth Partners LLC increased its stake in shares of Bank of America by 152.7% during the fourth 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 period. Retirement Wealth Solutions LLC bought a new position in Bank of America in the 4th quarter worth $42,000. Christopher J. Hasenberg Inc raised its stake in Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after buying an additional 852 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Bank of America in the 3rd quarter valued at approximately $45,000. Institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price for the company in a report on Friday, October 18th. Evercore ISI cut their price target on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Morgan Stanley boosted their target price on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Finally, Keefe, Bruyette & Woods lifted their price target on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Stock Performance

NYSE:BAC opened at $46.48 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market capitalization of $356.60 billion, a PE ratio of 14.43, a P/E/G ratio of 1.24 and a beta of 1.33. Bank of America Co. has a fifty-two week low of $32.35 and a fifty-two week high of $48.08. The company has a fifty day moving average of $45.82 and a two-hundred day moving average of $42.61.

Bank of America (NYSE:BAC) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share 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 return on equity of 10.29% and a net margin of 14.10%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 earnings per share. As a group, research analysts forecast that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

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.