Bank of America Co. (NYSE:BAC) Stock Position Reduced by Vishria Bird Financial Group LLC

Vishria Bird Financial Group LLC lowered its stake in shares of Bank of America Co. (NYSE:BAC) by 12.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,308 shares of the financial services provider’s stock after selling 739 shares during the period. Vishria Bird Financial Group LLC’s holdings in Bank of America were worth $233,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BAC. Point72 Hong Kong Ltd bought a new stake in shares of Bank of America in the 2nd quarter valued at approximately $182,000. Employees Retirement System of Texas lifted its stake in Bank of America by 27.3% in the second quarter. Employees Retirement System of Texas now owns 93,145 shares of the financial services provider’s stock valued at $3,704,000 after acquiring an additional 19,970 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new stake in Bank of America in the second quarter worth approximately $240,000. Daymark Wealth Partners LLC increased its stake in shares of Bank of America by 42.7% during the 2nd quarter. Daymark Wealth Partners LLC now owns 50,376 shares of the financial services provider’s stock worth $2,003,000 after purchasing an additional 15,078 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Bank of America in the 2nd quarter valued at $693,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on BAC shares. Morgan Stanley boosted their price target on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Truist Financial boosted their price objective on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Evercore ISI lowered their target price on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday, January 17th. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 target price on shares of Bank of America in a research report on Wednesday, October 9th. Finally, Piper Sandler dropped their price objective on Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Stock Up 0.2 %

Shares of BAC opened at $46.48 on Friday. Bank of America Co. has a 12 month low of $32.35 and a 12 month high of $48.08. The stock has a market cap of $356.60 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 1.24 and a beta of 1.33. The company has a 50-day moving average price of $45.82 and a two-hundred day moving average price of $42.57. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC) last announced its quarterly 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. The firm had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business’s revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 earnings per share. Equities analysts predict that Bank of America Co. will post 3.67 EPS for the current fiscal year.

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.