Southland Equity Partners LLC Acquires 231 Shares of Bank of America Co. (NYSE:BAC)

Southland Equity Partners LLC grew its holdings in Bank of America Co. (NYSE:BAC) by 2.6% during the 4th quarter, Holdings Channel reports. The firm owned 9,016 shares of the financial services provider’s stock after purchasing an additional 231 shares during the period. Southland Equity Partners LLC’s holdings in Bank of America were worth $396,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BAC. Kennebec Savings Bank bought a new position in shares of Bank of America in the 3rd quarter valued at about $29,000. Highline Wealth Partners LLC raised 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 position 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 valued at $40,000 after acquiring an additional 852 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in shares of Bank of America in the 4th quarter valued at approximately $42,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Bank of America in the 3rd quarter valued at approximately $45,000. Institutional investors own 70.71% of the company’s stock.

Bank of America Trading Up 1.4 %

BAC stock opened at $46.41 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The company has a fifty day moving average price of $45.81 and a two-hundred day moving average price of $42.55. Bank of America Co. has a one year low of $32.35 and a one year high of $48.08. The stock has a market cap of $356.13 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same period in the previous year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. Equities analysts anticipate that Bank of America Co. will post 3.67 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BAC. Truist Financial increased their price target on shares of Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Oppenheimer raised their target price on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their target price on shares of Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Finally, Barclays raised their target price on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Bank of America has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America 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.