Compass Wealth Management LLC Reduces Stake in Bank of America Co. (NYSE:BAC)

Compass Wealth Management LLC trimmed its position in shares of Bank of America Co. (NYSE:BAC) by 27.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,070 shares of the financial services provider’s stock after selling 400 shares during the quarter. Compass Wealth Management LLC’s holdings in Bank of America were worth $47,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BAC. Geode Capital Management LLC raised its stake in shares of Bank of America by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock worth $5,546,871,000 after buying an additional 1,700,141 shares during the last quarter. Legal & General Group Plc raised its position in Bank of America by 1.6% during the second quarter. Legal & General Group Plc now owns 57,539,506 shares of the financial services provider’s stock worth $2,288,347,000 after acquiring an additional 895,884 shares during the last quarter. Fisher Asset Management LLC raised its position in Bank of America by 4.0% during the third quarter. Fisher Asset Management LLC now owns 45,215,832 shares of the financial services provider’s stock worth $1,794,164,000 after acquiring an additional 1,731,003 shares during the last quarter. Sanders Capital LLC lifted its holdings in shares of Bank of America by 2.8% in the third quarter. Sanders Capital LLC now owns 22,341,213 shares of the financial services provider’s stock valued at $886,499,000 after purchasing an additional 601,211 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in shares of Bank of America by 0.4% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 17,042,952 shares of the financial services provider’s stock worth $676,264,000 after purchasing an additional 59,853 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Trading Up 0.2 %

NYSE BAC opened at $46.48 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. Bank of America Co. has a one year low of $32.35 and a one year high of $48.08. The company’s 50 day moving average price is $45.82 and its 200 day moving average price is $42.61. The firm has a market capitalization of $356.60 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 1.24 and a beta of 1.33.

Bank of America (NYSE:BAC) last issued its 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. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter last year, the firm posted $0.70 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, sell-side analysts predict that Bank of America Co. will post 3.67 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BAC. Morgan Stanley upped their target price on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. 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. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the company from $46.00 to $54.00 in a research note on Friday, November 8th. Piper Sandler lowered their price target on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and a consensus target price 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.