XML Financial LLC Decreases Holdings in Bank of America Co. (NYSE:BAC)

XML Financial LLC trimmed its stake in Bank of America Co. (NYSE:BAC) by 1.6% during the fourth quarter, Holdings Channel reports. The fund owned 248,316 shares of the financial services provider’s stock after selling 4,140 shares during the period. Bank of America makes up approximately 1.0% of XML Financial LLC’s portfolio, making the stock its 24th largest position. XML Financial LLC’s holdings in Bank of America were worth $10,913,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Kennebec Savings Bank purchased a new stake in shares of Bank of America during the 3rd quarter valued at approximately $29,000. Highline Wealth Partners LLC boosted its holdings in shares of Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 510 shares during the period. Christopher J. Hasenberg Inc grew its position in shares of Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 852 shares in the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Bank of America during the 4th quarter valued at $42,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Bank of America during the 3rd quarter worth about $45,000. 70.71% of the stock is owned by institutional investors.

Bank of America Stock Up 0.3 %

Shares of NYSE:BAC opened at $46.65 on Wednesday. The stock’s 50-day moving average is $45.80 and its 200 day moving average is $42.48. The company has a market cap of $357.92 billion, a PE ratio of 14.49, a P/E/G ratio of 1.26 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. Bank of America Co. has a 1 year low of $32.32 and a 1 year high of $48.08.

Bank of America (NYSE:BAC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. During the same period in the previous year, the firm earned $0.70 earnings per share. The business’s revenue was up 15.0% compared to the same quarter last year. Sell-side analysts anticipate that Bank of America Co. will post 3.67 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BAC shares. Wells Fargo & Company upped their price target on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, January 7th. Morgan Stanley increased their price target on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Barclays lifted their price objective on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of America has an average rating of “Moderate Buy” and a consensus price target of $48.58.

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.