Flywheel Private Wealth LLC Buys Shares of 5,825 Bank of America Co. (NYSE:BAC)

Flywheel Private Wealth LLC purchased a new position in shares of Bank of America Co. (NYSE:BAC) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,825 shares of the financial services provider’s stock, valued at approximately $256,000.

Several other hedge funds also recently added to or reduced their stakes in BAC. Traveka Wealth LLC lifted its stake in Bank of America by 2.7% during the 4th quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock valued at $382,000 after acquiring an additional 226 shares during the period. Longfellow Investment Management Co. LLC increased its stake in shares of Bank of America by 0.6% in the third quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider’s stock worth $1,484,000 after acquiring an additional 227 shares during the period. Beacon Investment Advisory Services Inc. boosted its holdings in Bank of America by 1.1% in the third quarter. Beacon Investment Advisory Services Inc. now owns 20,863 shares of the financial services provider’s stock valued at $828,000 after purchasing an additional 231 shares during the last quarter. Integrity Financial Corp WA grew its position in Bank of America by 1.6% during the 3rd quarter. Integrity Financial Corp WA now owns 14,875 shares of the financial services provider’s stock worth $590,000 after purchasing an additional 240 shares during the period. Finally, Cahill Financial Advisors Inc. grew its position in Bank of America by 2.1% during the 3rd quarter. Cahill Financial Advisors Inc. now owns 12,231 shares of the financial services provider’s stock worth $485,000 after purchasing an additional 249 shares during the period. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Trading Up 3.2 %

Shares of BAC opened at $47.23 on Thursday. The firm’s fifty day moving average is $45.69 and its two-hundred day moving average is $42.31. The stock has a market cap of $362.39 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. Bank of America Co. has a 52-week low of $31.27 and a 52-week high of $48.08.

Bank of America (NYSE:BAC) last announced its quarterly earnings data 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 net margin of 12.48% and a return on equity of 10.09%. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same quarter in the prior year, the company earned $0.70 EPS. Bank of America’s revenue was up 15.0% compared to the same quarter last year. Research analysts forecast that Bank of America Co. will post 3.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BAC. Barclays upped their target price 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. Evercore ISI raised their price objective on shares of Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price target on shares of Bank of America in a report on Wednesday, October 9th. Oppenheimer cut their price objective on shares of Bank of America from $57.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Finally, Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and a consensus target price 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.