Prairiewood Capital LLC Has $1.53 Million Stake in Bank of America Co. (NYSE:BAC)

Prairiewood Capital LLC reduced its holdings in Bank of America Co. (NYSE:BAC) by 16.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,716 shares of the financial services provider’s stock after selling 6,617 shares during the quarter. Bank of America makes up approximately 0.7% of Prairiewood Capital LLC’s holdings, making the stock its 29th largest holding. Prairiewood Capital LLC’s holdings in Bank of America were worth $1,526,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Kennebec Savings Bank acquired a new stake in Bank of America in the 3rd quarter valued at about $29,000. Highline Wealth Partners LLC increased its holdings 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 purchasing an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc raised its position 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 purchasing an additional 852 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Bank of America during the 4th quarter worth $42,000. Finally, Northwest Investment Counselors LLC bought a new position in Bank of America in the 3rd quarter valued at $45,000. 70.71% of the stock is currently owned by institutional investors.

Bank of America Stock Performance

Shares of BAC stock opened at $46.54 on Tuesday. The business’s 50-day moving average price is $45.79 and its 200-day moving average price is $42.44. Bank of America Co. has a 12 month low of $31.40 and a 12 month high of $48.08. 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 market capitalization of $357.13 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 1.23 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. The firm had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 EPS. Equities research analysts forecast that Bank of America Co. will post 3.24 EPS for the current year.

Wall Street Analyst Weigh In

BAC has been the topic of a number of research reports. Piper Sandler cut their price target on Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Friday. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price target 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. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $43.00 to $53.00 in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

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.