Endeavor Private Wealth Inc. Acquires Shares of 2,988 Bank of America Co. (NYSE:BAC)

Endeavor Private Wealth Inc. bought a new position in shares of Bank of America Co. (NYSE:BAC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,988 shares of the financial services provider’s stock, valued at approximately $131,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kennebec Savings Bank acquired a new stake in shares of Bank of America during the third quarter worth $29,000. Highline Wealth Partners LLC boosted its holdings in 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 worth $37,000 after buying an additional 510 shares during the last quarter. Christopher J. Hasenberg Inc grew its position in shares of Bank of America by 525.9% during the 3rd 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 during the period. Retirement Wealth Solutions LLC bought a new stake in shares of Bank of America in the 4th quarter valued at about $42,000. Finally, Northwest Investment Counselors LLC acquired a new stake 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.

Bank of America Trading Down 1.8 %

NYSE BAC opened at $45.80 on Thursday. Bank of America Co. has a 12 month low of $32.35 and a 12 month high of $48.08. 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 50 day moving average of $45.81 and a 200-day moving average of $42.55. The company has a market cap of $351.41 billion, a PE ratio of 14.22, a PEG ratio of 1.27 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The firm had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.70 earnings per share. On average, equities research analysts anticipate that Bank of America Co. will post 3.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Barclays upped their target price on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. HSBC raised 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. Morgan Stanley boosted their price objective on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday, January 17th. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and upped their price target for the company from $46.00 to $54.00 in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

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.