Bank of America Co. (NYSE:BAC) Shares Purchased by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC boosted its holdings in shares of Bank of America Co. (NYSE:BAC) by 0.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 87,515 shares of the financial services provider’s stock after buying an additional 285 shares during the quarter. Plimoth Trust Co. LLC’s holdings in Bank of America were worth $3,846,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kennebec Savings Bank acquired a new stake in shares of Bank of America in the third quarter valued at $29,000. Highline Wealth Partners LLC lifted its holdings in Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after buying an additional 510 shares during the last quarter. Christopher J. Hasenberg Inc lifted its holdings in 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. Retirement Wealth Solutions LLC purchased a new stake in shares of Bank of America in the 4th quarter valued at about $42,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Bank of America in the 3rd quarter valued at about $45,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Performance

BAC traded up $0.45 during trading on Wednesday, hitting $47.29. The stock had a trading volume of 3,234,171 shares, compared to its average volume of 36,439,086. Bank of America Co. has a 12 month low of $32.35 and a 12 month high of $48.08. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The company has a 50 day simple moving average of $45.83 and a 200-day simple moving average of $42.70. The firm has a market cap of $362.81 billion, a PE ratio of 14.67, a P/E/G ratio of 1.24 and a beta of 1.33.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BAC. Phillip Securities upgraded Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price target on the stock in a research report on Friday, October 18th. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. Wells Fargo & Company boosted their target price on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Oppenheimer boosted their price target on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. Finally, Truist Financial boosted their price target on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.