Callan Family Office LLC Has $14.75 Million Stake in Bank of America Corporation $BAC

Callan Family Office LLC lowered its position in shares of Bank of America Corporation (NYSE:BAC) by 7.8% during the third quarter, Holdings Channel.com reports. The firm owned 285,892 shares of the financial services provider’s stock after selling 24,327 shares during the quarter. Callan Family Office LLC’s holdings in Bank of America were worth $14,749,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Quaker Wealth Management LLC grew its stake in shares of Bank of America by 246.5% in the second quarter. Quaker Wealth Management LLC now owns 523 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 880 shares in the last quarter. RMG Wealth Management LLC acquired a new stake in Bank of America in the 2nd quarter worth about $28,000. Steph & Co. boosted its holdings in Bank of America by 224.3% in the 3rd quarter. Steph & Co. now owns 548 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 379 shares during the period. CGC Financial Services LLC grew its position in shares of Bank of America by 585.4% during the 2nd quarter. CGC Financial Services LLC now owns 610 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 521 shares in the last quarter. Finally, Marquette Asset Management LLC bought a new position in shares of Bank of America during the third quarter worth approximately $30,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America Price Performance

Shares of BAC stock opened at $54.03 on Tuesday. The business has a fifty day simple moving average of $54.20 and a 200 day simple moving average of $51.65. The company has a market cap of $394.52 billion, a P/E ratio of 14.11, a P/E/G ratio of 1.30 and a beta of 1.29. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. Bank of America Corporation has a twelve month low of $33.06 and a twelve month high of $57.55.

Bank of America (NYSE:BAC) last issued its earnings results on Wednesday, January 14th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $27.73 billion. Bank of America had a return on equity of 11.07% and a net margin of 16.23%.The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 earnings per share. On average, sell-side analysts forecast that Bank of America Corporation will post 3.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BAC shares. Citigroup boosted their price target on Bank of America from $58.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, October 16th. Dbs Bank raised Bank of America to a “moderate buy” rating in a report on Wednesday, October 22nd. Truist Financial cut their target price on Bank of America from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, January 15th. Weiss Ratings restated a “buy (b)” rating on shares of Bank of America in a research report on Tuesday, January 27th. Finally, Keefe, Bruyette & Woods dropped their price target on Bank of America from $64.00 to $63.00 and set an “outperform” rating for the company in a research note on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Bank of America Profile

Bank of America Corporation is a multinational financial services company headquartered in Charlotte, North Carolina. It provides a broad array of banking, investment, asset management and related financial and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, governments and institutional investors. The firm operates through consumer banking, global wealth and investment management, global banking and markets businesses, offering capabilities across lending, deposits, payments, advisory and capital markets.

Its consumer-facing offerings include checking and savings accounts, mortgages, home equity lending, auto loans, credit cards and small business banking, supported by a nationwide branch network and digital channels.