Bank of America Co. (NYSE:BAC) Shares Acquired by Astoria Portfolio Advisors LLC.

Astoria Portfolio Advisors LLC. raised its stake in shares of Bank of America Co. (NYSE:BAC) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 205,063 shares of the financial services provider’s stock after buying an additional 333 shares during the period. Bank of America makes up 3.3% of Astoria Portfolio Advisors LLC.’s portfolio, making the stock its 6th biggest position. Astoria Portfolio Advisors LLC.’s holdings in Bank of America were worth $9,388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Edgestream Partners L.P. bought a new position in shares of Bank of America during the 2nd quarter valued at about $257,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Bank of America by 7.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 97,751 shares of the financial services provider’s stock worth $3,887,000 after buying an additional 6,385 shares in the last quarter. Bridges Investment Management Inc. acquired a new position in Bank of America in the second quarter worth approximately $1,796,000. Pacer Advisors Inc. increased its holdings in shares of Bank of America by 2.7% in the second quarter. Pacer Advisors Inc. now owns 484,549 shares of the financial services provider’s stock valued at $19,271,000 after buying an additional 12,611 shares in the last quarter. Finally, Summit Trail Advisors LLC lifted its position in shares of Bank of America by 49.0% during the 2nd quarter. Summit Trail Advisors LLC now owns 137,956 shares of the financial services provider’s stock valued at $5,487,000 after acquiring an additional 45,398 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BAC shares. Keefe, Bruyette & Woods upped their target price on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Evercore ISI decreased 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 report on Friday. Morgan Stanley boosted their price target on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Friday. Wells Fargo & Company raised their price objective on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Stock Performance

NYSE BAC opened at $46.54 on Friday. The company’s fifty day moving average is $45.79 and its two-hundred day moving average is $42.42. Bank of America Co. has a 52-week low of $31.40 and a 52-week high of $48.08. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. The firm has a market capitalization of $357.13 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 1.23 and a beta of 1.33.

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 the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. Bank of America’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 EPS. Equities research analysts forecast that Bank of America Co. will post 3.24 EPS for the current year.

Bank of America 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.