Stolper Co Raises Stock Holdings in Bank of America Co. (NYSE:BAC)

Stolper Co raised its stake in shares of Bank of America Co. (NYSE:BAC) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 177,023 shares of the financial services provider’s stock after acquiring an additional 458 shares during the period. Bank of America makes up 2.6% of Stolper Co’s holdings, making the stock its 11th biggest holding. Stolper Co’s holdings in Bank of America were worth $7,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. ERn Financial LLC grew its holdings in shares of Bank of America by 3.3% in the fourth quarter. ERn Financial LLC now owns 21,979 shares of the financial services provider’s stock valued at $966,000 after purchasing an additional 709 shares in the last quarter. BluePath Capital Management LLC raised its stake 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 valued at $1,177,000 after acquiring an additional 4,391 shares in the last quarter. Armstrong Advisory Group Inc. increased its stake in 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 purchasing an additional 573 shares during the last quarter. Apella Capital LLC raised its holdings 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 worth $498,000 after purchasing an additional 463 shares in the last quarter. Finally, Founders Grove Wealth Partners LLC acquired a new position in shares of Bank of America in the 4th quarter valued at $218,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Trading Up 3.2 %

NYSE:BAC opened at $47.23 on Thursday. Bank of America Co. has a 1 year low of $31.27 and a 1 year high of $48.08. The business has a fifty day moving average of $45.69 and a 200-day moving average of $42.31. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market cap of $362.39 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 1.23 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.25 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.90 EPS. Equities analysts predict that Bank of America Co. will post 3.24 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on BAC shares. Truist Financial initiated coverage on Bank of America in a report on Tuesday, January 7th. They set a “buy” rating and a $52.00 price objective on the stock. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. Evercore ISI increased their price target on Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a 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 research note on Friday, October 18th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and a consensus price target of $47.50.

Bank of America Company 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.