Pacifica Partners Inc. Sells 987 Shares of Bank of America Co. (NYSE:BAC)

Pacifica Partners Inc. cut its stake in Bank of America Co. (NYSE:BAC) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 97,728 shares of the financial services provider’s stock after selling 987 shares during the period. Bank of America comprises about 1.9% of Pacifica Partners Inc.’s investment portfolio, making the stock its 17th largest position. Pacifica Partners Inc.’s holdings in Bank of America were worth $4,329,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Traveka Wealth LLC increased its position in shares of Bank of America by 2.7% during the fourth quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 226 shares during the period. Longfellow Investment Management Co. LLC increased its holdings in Bank of America by 0.6% during the 3rd quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider’s stock worth $1,484,000 after purchasing an additional 227 shares during the period. Beacon Investment Advisory Services Inc. raised its position in Bank of America by 1.1% during the 3rd 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 in the last quarter. Integrity Financial Corp WA grew its position in shares of 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 buying an additional 240 shares in the last quarter. Finally, Cahill Financial Advisors Inc. raised its holdings in shares of Bank of America by 2.1% in the third quarter. Cahill Financial Advisors Inc. now owns 12,231 shares of the financial services provider’s stock valued at $485,000 after acquiring an additional 249 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Up 1.8 %

Shares of NYSE:BAC opened at $45.88 on Wednesday. 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 fifty-two week low of $31.27 and a fifty-two week high of $48.08. The stock has a market cap of $352.03 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth 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 announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.25 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. Bank of America’s revenue for the quarter was up .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 EPS. As a group, equities research analysts predict that Bank of America Co. will post 3.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BAC shares. Oppenheimer cut their target price on shares of Bank of America from $57.00 to $54.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Evercore ISI upped their target price on Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, January 7th. One 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 company’s stock. According to data from MarketBeat, the company currently 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.