VCI Wealth Management LLC Has $1.67 Million Holdings in Bank of America Co. (NYSE:BAC)

VCI Wealth Management LLC boosted its holdings in Bank of America Co. (NYSE:BAC) by 22.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,019 shares of the financial services provider’s stock after buying an additional 6,918 shares during the quarter. VCI Wealth Management LLC’s holdings in Bank of America were worth $1,671,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BAC. Driehaus Capital Management LLC boosted its stake in shares of Bank of America by 56.8% during the second quarter. Driehaus Capital Management LLC now owns 21,993 shares of the financial services provider’s stock valued at $875,000 after purchasing an additional 7,964 shares in the last quarter. Magnolia Capital Advisors LLC acquired a new stake in shares of Bank of America during the second quarter valued at about $743,000. Silver Lake Advisory LLC boosted its stake in shares of Bank of America by 6.2% during the second quarter. Silver Lake Advisory LLC now owns 13,079 shares of the financial services provider’s stock valued at $520,000 after purchasing an additional 759 shares in the last quarter. William B. Walkup & Associates Inc. acquired a new stake in shares of Bank of America during the second quarter valued at about $624,000. Finally, Wallace Advisory Group LLC boosted its stake in shares of Bank of America by 8.4% during the second quarter. Wallace Advisory Group LLC now owns 17,366 shares of the financial services provider’s stock valued at $691,000 after purchasing an additional 1,345 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BAC has been the topic of a number of recent research reports. Piper Sandler cut their price target 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. Wells Fargo & Company lifted their price objective on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. 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. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. Finally, Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $46.00 to $54.00 in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Trading Up 1.2 %

NYSE BAC opened at $47.06 on Tuesday. The business has a 50 day moving average price of $45.82 and a 200-day moving average price of $42.63. Bank of America Co. has a 52 week low of $32.35 and a 52 week high of $48.08. The company has a market cap of $361.10 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 1.24 and a beta of 1.33. 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 (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. Bank of America’s revenue was up 15.0% compared to the same quarter last year. As a group, equities analysts expect that Bank of America Co. will post 3.67 earnings per share 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.