Anderson Hoagland & Co. Sells 5,363 Shares of Bank of America Co. (NYSE:BAC)

Anderson Hoagland & Co. lessened its holdings in shares of Bank of America Co. (NYSE:BAC) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 249,974 shares of the financial services provider’s stock after selling 5,363 shares during the quarter. Bank of America makes up 1.2% of Anderson Hoagland & Co.’s portfolio, making the stock its 23rd largest holding. Anderson Hoagland & Co.’s holdings in Bank of America were worth $11,631,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of BAC. Kennebec Savings Bank purchased a new position in Bank of America during the 3rd quarter valued at approximately $29,000. Highline Wealth Partners LLC lifted its stake in shares of Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 510 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Bank of America in the 4th quarter worth approximately $42,000. Christopher J. Hasenberg Inc increased its position in shares of Bank of America by 525.9% during the 3rd 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 during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in Bank of America during the 3rd quarter valued at $45,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of NYSE:BAC opened at $46.48 on Friday. The firm has a 50 day moving average of $45.82 and a 200 day moving average of $42.61. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $356.60 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. Bank of America Co. has a 52 week low of $32.35 and a 52 week high of $48.08.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. The firm had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 EPS. On average, sell-side analysts predict that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BAC has been the subject of several recent analyst reports. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective for the company in a research note on Friday, October 18th. Oppenheimer upped their price target on shares of Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, January 17th. Morgan Stanley raised their price objective on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Piper Sandler cut their target price 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. Finally, Barclays raised their price target on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.