Outlook Wealth Advisors LLC Has $617,000 Stock Holdings in Bank of America Co. (NYSE:BAC)

Outlook Wealth Advisors LLC boosted its position in shares of Bank of America Co. (NYSE:BAC) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,044 shares of the financial services provider’s stock after purchasing an additional 330 shares during the period. Outlook Wealth Advisors LLC’s holdings in Bank of America were worth $617,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Essex Savings Bank boosted its holdings in Bank of America by 2.6% during the fourth quarter. Essex Savings Bank now owns 10,359 shares of the financial services provider’s stock worth $455,000 after purchasing an additional 262 shares during the last quarter. Stolper Co boosted its position in Bank of America by 0.3% during the fourth quarter. Stolper Co now owns 177,023 shares of the financial services provider’s stock valued at $7,780,000 after purchasing an additional 458 shares during the last quarter. ERn Financial LLC grew its stake in Bank of America by 3.3% in the fourth quarter. ERn Financial LLC now owns 21,979 shares of the financial services provider’s stock valued at $966,000 after purchasing an additional 709 shares in the last quarter. BluePath Capital Management LLC raised its stake in shares of Bank of America by 20.2% during the 4th quarter. BluePath Capital Management LLC now owns 26,119 shares of the financial services provider’s stock worth $1,177,000 after purchasing an additional 4,391 shares in the last quarter. Finally, Armstrong Advisory Group Inc. grew its stake in shares of Bank of America by 2.1% in the fourth quarter. Armstrong Advisory Group Inc. now owns 28,278 shares of the financial services provider’s stock valued at $1,243,000 after buying an additional 573 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Performance

NYSE:BAC opened at $47.23 on Thursday. Bank of America Co. has a fifty-two week low of $31.27 and a fifty-two week high of $48.08. The company has a 50 day simple moving average of $45.69 and a two-hundred day simple moving average of $42.31. The company has a market capitalization of $362.39 billion, a PE ratio of 17.17, a P/E/G ratio of 1.23 and a beta of 1.33. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80.

Bank of America (NYSE:BAC) last released 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 $0.79 by $0.03. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. Research analysts anticipate that Bank of America Co. will post 3.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of recent analyst reports. Oppenheimer cut their price target on shares of Bank of America from $57.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Wells Fargo & Company raised their target price on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Truist Financial started coverage on Bank of America in a research report on Tuesday, January 7th. They set a “buy” rating and a $52.00 price target on the stock. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and raised their price objective for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. Finally, Barclays increased their price target on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $47.50.

About Bank of America

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.