13,050 Shares in Bank of America Co. (NYSE:BAC) Purchased by Floyd Financial Group LLC

Floyd Financial Group LLC purchased a new stake in Bank of America Co. (NYSE:BAC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 13,050 shares of the financial services provider’s stock, valued at approximately $589,000.

Other hedge funds also recently modified their holdings of the company. Wulff Hansen & CO. lifted its position in Bank of America by 3,720.6% in the second quarter. Wulff Hansen & CO. now owns 2,025,221 shares of the financial services provider’s stock worth $80,543,000 after purchasing an additional 1,972,213 shares during the period. WealthPLAN Partners LLC lifted its holdings in shares of Bank of America by 2.6% during the 2nd quarter. WealthPLAN Partners LLC now owns 28,826 shares of the financial services provider’s stock worth $1,146,000 after acquiring an additional 717 shares during the period. Luts & Greenleigh Group Inc. acquired a new stake in shares of Bank of America during the 2nd quarter valued at about $227,000. Lmcg Investments LLC increased its stake in Bank of America by 3.2% in the second quarter. Lmcg Investments LLC now owns 282,037 shares of the financial services provider’s stock valued at $11,217,000 after acquiring an additional 8,731 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in Bank of America in the second quarter worth about $257,000. Institutional investors own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

BAC has been the topic of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price objective on shares of Bank of America in a research note on Wednesday, October 9th. 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. Barclays lifted their price objective on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Evercore ISI upped their target price on shares of Bank of America from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley downgraded shares of Bank of America from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $48.00 to $55.00 in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

Bank of America Price Performance

Shares of BAC stock opened at $45.88 on Wednesday. The firm has a market cap of $352.03 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.55 and a beta of 1.33. Bank of America Co. has a 12 month low of $31.27 and a 12 month high of $48.08. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. The stock has a 50-day moving average price of $45.69 and a 200 day moving average price of $42.31.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.78 by $0.03. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.25 billion. During the same quarter in the previous year, the company earned $0.90 EPS. Bank of America’s revenue was up .4% on a year-over-year basis. Research analysts expect that Bank of America Co. will post 3.27 EPS for the current year.

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.