Essex Savings Bank Purchases 262 Shares of Bank of America Co. (NYSE:BAC)

Essex Savings Bank raised its holdings in Bank of America Co. (NYSE:BAC) by 2.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,359 shares of the financial services provider’s stock after acquiring an additional 262 shares during the period. Essex Savings Bank’s holdings in Bank of America were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of BAC. Stolper Co lifted its holdings in Bank of America by 0.3% during the 4th quarter. Stolper Co now owns 177,023 shares of the financial services provider’s stock worth $7,780,000 after purchasing an additional 458 shares in the last quarter. ERn Financial LLC increased its position in shares of Bank of America by 3.3% during the fourth quarter. ERn Financial LLC now owns 21,979 shares of the financial services provider’s stock valued at $966,000 after buying an additional 709 shares during the period. BluePath Capital Management LLC lifted its holdings in shares of Bank of America by 20.2% in the fourth quarter. BluePath Capital Management LLC now owns 26,119 shares of the financial services provider’s stock worth $1,177,000 after buying an additional 4,391 shares in the last quarter. Armstrong Advisory Group Inc. boosted its position in shares of Bank of America by 2.1% in the fourth quarter. Armstrong Advisory Group Inc. now owns 28,278 shares of the financial services provider’s stock valued at $1,243,000 after acquiring an additional 573 shares during the period. Finally, Apella Capital LLC grew its stake in Bank of America by 4.3% during the fourth quarter. Apella Capital LLC now owns 11,333 shares of the financial services provider’s stock valued at $498,000 after acquiring an additional 463 shares in the last quarter. 70.71% of the stock is owned by institutional investors.

Bank of America Trading Up 3.2 %

Shares of NYSE BAC opened at $47.23 on Thursday. The stock has a market cap of $362.39 billion, a P/E ratio of 17.17, 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 Co. has a 1 year low of $31.27 and a 1 year high of $48.08. The firm has a 50-day moving average of $45.69 and a 200 day moving average of $42.31.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. As a group, sell-side analysts expect that Bank of America Co. will post 3.24 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on BAC shares. Barclays raised their price target 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. Truist Financial initiated coverage on Bank of America in a research report on Tuesday, January 7th. They set a “buy” rating and a $52.00 target price for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 price target on shares of Bank of America in a report on Wednesday, October 9th. Evercore ISI upped their price objective 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. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.50.

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.