Harel Insurance Investments & Financial Services Ltd. Purchases 7,133 Shares of Bank of America Co. (NYSE:BAC)

Harel Insurance Investments & Financial Services Ltd. boosted its position in Bank of America Co. (NYSE:BAC) by 11.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,955 shares of the financial services provider’s stock after purchasing an additional 7,133 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Bank of America were worth $3,031,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marino Stram & Associates LLC grew its stake in shares of Bank of America by 1.7% in the fourth quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock valued at $580,000 after acquiring an additional 222 shares in the last quarter. Traveka Wealth LLC boosted its holdings in Bank of America by 2.7% in the 4th quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 226 shares during the period. Longfellow Investment Management Co. LLC grew its position in shares of Bank of America by 0.6% during the 3rd quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider’s stock worth $1,484,000 after purchasing an additional 227 shares in the last quarter. Beacon Investment Advisory Services Inc. increased its holdings in shares of Bank of America by 1.1% during the third quarter. Beacon Investment Advisory Services Inc. now owns 20,863 shares of the financial services provider’s stock worth $828,000 after purchasing an additional 231 shares during the period. Finally, Southland Equity Partners LLC raised its position in shares of Bank of America by 2.6% in the fourth quarter. Southland Equity Partners LLC now owns 9,016 shares of the financial services provider’s stock valued at $396,000 after buying an additional 231 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Trading Up 0.2 %

Shares of BAC stock opened at $46.48 on Friday. The stock has a 50-day moving average of $45.82 and a 200-day moving average of $42.57. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The stock has a market cap of $356.60 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 1.24 and a beta of 1.33. Bank of America Co. has a 1-year low of $32.35 and a 1-year high of $48.08.

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 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 during the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter in the prior year, the firm posted $0.70 EPS. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities research analysts forecast that Bank of America Co. will post 3.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Tuesday, January 7th. StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Morgan Stanley increased their price objective 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, January 17th. Evercore ISI dropped their target price on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Finally, UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and increased their price target for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.