Bank of America Co. (NYSE:BAC) Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC lowered its stake in shares of Bank of America Co. (NYSE:BAC) by 29.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,494 shares of the financial services provider’s stock after selling 16,831 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Bank of America were worth $1,736,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fairway Wealth LLC acquired a new position in Bank of America during the 2nd quarter valued at approximately $27,000. Kennebec Savings Bank purchased a new stake in shares of Bank of America during the third quarter valued at $29,000. Highline Wealth Partners LLC increased its position 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 acquiring an additional 510 shares during the period. Christopher J. Hasenberg Inc raised its stake in 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 acquiring an additional 852 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in Bank of America during the 3rd quarter worth about $45,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Bank of America Trading Up 1.8 %

Shares of Bank of America stock opened at $45.88 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09. Bank of America Co. has a twelve month low of $31.27 and a twelve month high of $48.08. The firm has a market capitalization of $352.03 billion, a PE ratio of 16.68, a P/E/G ratio of 1.55 and a beta of 1.33. The firm’s 50-day moving average price is $45.69 and its 200 day moving average price is $42.31.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.03. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The business had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.25 billion. During the same quarter last year, the business posted $0.90 earnings per share. The business’s quarterly revenue was up .4% compared to the same quarter last year. On average, sell-side analysts predict that Bank of America Co. will post 3.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BAC. Barclays increased their price objective on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and increased their price target for the stock from $46.00 to $54.00 in a report on Friday, November 8th. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Truist Financial started coverage on shares of Bank of America in a research report on Tuesday, January 7th. They set a “buy” rating and a $52.00 target price for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

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.