Bank of America Co. (NYSE:BAC) Shares Sold by RMR Wealth Builders

RMR Wealth Builders lowered its position in Bank of America Co. (NYSE:BAC) by 55.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,679 shares of the financial services provider’s stock after selling 30,751 shares during the period. RMR Wealth Builders’ holdings in Bank of America were worth $1,085,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of BAC. Kennebec Savings Bank purchased a new stake in Bank of America during the third quarter worth $29,000. Highline Wealth Partners LLC increased its position in shares of Bank of America by 152.7% in the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $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% during 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 during the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Bank of America in the 3rd quarter worth about $45,000. Finally, Truvestments Capital LLC purchased a new position in Bank of America during the 3rd quarter valued at about $73,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BAC shares. Barclays upped their price target on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Morgan Stanley cut Bank of America from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $48.00 to $55.00 in a report on Monday, December 9th. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $47.50.

Bank of America Price Performance

Shares of BAC stock opened at $47.23 on Thursday. Bank of America Co. has a twelve month low of $31.27 and a twelve month high of $48.08. The company has a market capitalization 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 current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09. The firm has a fifty day simple moving average of $45.69 and a 200-day simple moving average of $42.31.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.03. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. Equities research analysts anticipate that Bank of America Co. will post 3.24 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.