Copperwynd Financial LLC boosted its holdings in shares of Bank of America Corp (NYSE:BAC) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,279 shares of the financial services provider’s stock after buying an additional 458 shares during the quarter. Copperwynd Financial LLC’s holdings in Bank of America were worth $714,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in BAC. Arjuna Capital increased its position in Bank of America by 1.9% during the second quarter. Arjuna Capital now owns 51,588 shares of the financial services provider’s stock worth $1,496,000 after buying an additional 956 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Bank of America during the second quarter worth approximately $218,000. Andra AP fonden grew its position in shares of Bank of America by 36.3% in the second quarter. Andra AP fonden now owns 159,100 shares of the financial services provider’s stock valued at $4,614,000 after purchasing an additional 42,400 shares during the last quarter. Waddell & Reed Financial Inc. grew its position in shares of Bank of America by 398.9% in the second quarter. Waddell & Reed Financial Inc. now owns 2,485,015 shares of the financial services provider’s stock valued at $72,065,000 after purchasing an additional 1,986,877 shares during the last quarter. Finally, MidWestOne Financial Group Inc. acquired a new position in shares of Bank of America in the second quarter valued at approximately $235,000. 69.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of BAC stock traded down $0.24 during trading on Thursday, hitting $34.12. The company had a trading volume of 45,691,377 shares, compared to its average volume of 47,292,156. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.90 and a current ratio of 0.91. The firm has a market capitalization of $305.02 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 1.25 and a beta of 1.64. The stock’s 50-day moving average price is $34.69 and its 200 day moving average price is $31.08. Bank of America Corp has a one year low of $26.21 and a one year high of $35.72.
Bank of America (NYSE:BAC) last issued its quarterly earnings results on Wednesday, January 15th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. The business had revenue of $22.30 billion during the quarter, compared to analysts’ expectations of $22.30 billion. Bank of America had a return on equity of 11.95% and a net margin of 24.15%. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 earnings per share. On average, research analysts anticipate that Bank of America Corp will post 3.05 earnings per share for the current fiscal year.
BAC has been the topic of several research reports. Wells Fargo & Co set a $34.00 target price on Bank of America and gave the company a “buy” rating in a research report on Tuesday, October 15th. Odeon Capital Group raised Bank of America from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Barclays raised Bank of America from an “equal weight” rating to an “overweight” rating and set a $43.00 target price on the stock in a research report on Monday, January 6th. Atlantic Securities downgraded Bank of America from an “overweight” rating to a “neutral” rating and set a $36.00 target price on the stock. in a research report on Tuesday. Finally, Morgan Stanley reaffirmed a “buy” rating and issued a $38.00 target price (up previously from $35.00) on shares of Bank of America in a research report on Monday, November 18th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. Bank of America has an average rating of “Hold” and an average target price of $35.29.
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 through four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.
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