Bank of America Co. (NYSE:BAC) Position Increased by Annex Advisory Services LLC

Annex Advisory Services LLC increased its stake in Bank of America Co. (NYSE:BAC) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,267 shares of the financial services provider’s stock after purchasing an additional 372 shares during the period. Annex Advisory Services LLC’s holdings in Bank of America were worth $363,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its stake in Bank of America by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock valued at $5,546,871,000 after acquiring an additional 1,700,141 shares in the last quarter. Legal & General Group Plc raised its stake in Bank of America by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 57,539,506 shares of the financial services provider’s stock valued at $2,288,347,000 after acquiring an additional 895,884 shares in the last quarter. Fisher Asset Management LLC raised its stake in Bank of America by 4.0% during the 3rd quarter. Fisher Asset Management LLC now owns 45,215,832 shares of the financial services provider’s stock valued at $1,794,164,000 after acquiring an additional 1,731,003 shares in the last quarter. Sanders Capital LLC raised its stake in Bank of America by 2.8% during the 3rd quarter. Sanders Capital LLC now owns 22,341,213 shares of the financial services provider’s stock valued at $886,499,000 after acquiring an additional 601,211 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its stake in Bank of America by 0.4% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 17,042,952 shares of the financial services provider’s stock valued at $676,264,000 after acquiring an additional 59,853 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

NYSE BAC opened at $46.54 on Tuesday. Bank of America Co. has a twelve month low of $31.40 and a twelve month high of $48.08. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80. The stock has a market capitalization of $357.13 billion, a PE ratio of 16.93, a P/E/G ratio of 1.23 and a beta of 1.33. The stock has a 50-day simple moving average of $45.79 and a 200 day simple moving average of $42.44.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. 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. Oppenheimer lifted their price target on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday. Citigroup upgraded Bank of America from a “neutral” rating to a “buy” rating and lifted their price target for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 price target on shares of Bank of America in a research report on Wednesday, October 9th. Finally, UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and lifted their price target for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the 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 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.