Bank of America Co. (NYSE:BAC) Stock Holdings Increased by Tudor Financial Inc.

Tudor Financial Inc. raised its holdings in shares of Bank of America Co. (NYSE:BAC) by 24.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,246 shares of the financial services provider’s stock after acquiring an additional 3,982 shares during the period. Tudor Financial Inc.’s holdings in Bank of America were worth $890,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Kennebec Savings Bank bought a new stake in shares of Bank of America in the 3rd quarter worth $29,000. Highline Wealth Partners LLC raised 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 worth $37,000 after buying an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc raised its stake in shares of Bank of America by 525.9% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after buying an additional 852 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Bank of America during the fourth quarter worth $42,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Bank of America during the third quarter worth $45,000. Institutional investors own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BAC shares. Oppenheimer boosted their target price on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday. Keefe, Bruyette & Woods boosted their target price on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. 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 report on Friday. Truist Financial lifted their price target on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday. Finally, Morgan Stanley lifted their price target on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Stock Performance

BAC opened at $46.54 on Tuesday. The company has a market cap of $357.13 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 1.27 and a beta of 1.33. The stock has a 50-day moving average of $45.79 and a 200-day moving average of $42.44. Bank of America Co. has a 52-week low of $31.40 and a 52-week high of $48.08. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78.

Bank of America (NYSE:BAC) last posted its quarterly earnings data 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. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The business had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same quarter in the previous year, the firm earned $0.70 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. As a group, equities research analysts forecast that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

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 in four segments: Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking, and Global Markets.