Bank of America Co. (NYSE:BAC) Shares Bought by Baker Ellis Asset Management LLC

Baker Ellis Asset Management LLC raised its position in Bank of America Co. (NYSE:BAC) by 8.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,505 shares of the financial services provider’s stock after acquiring an additional 1,100 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Bank of America were worth $637,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Marino Stram & Associates LLC grew its position in Bank of America by 1.7% in the 4th quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock valued at $580,000 after acquiring an additional 222 shares in the last quarter. Traveka Wealth LLC grew its position in Bank of America by 2.7% in the 4th quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock valued at $382,000 after acquiring an additional 226 shares in the last quarter. Longfellow Investment Management Co. LLC grew its position in Bank of America by 0.6% in the 3rd quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider’s stock valued at $1,484,000 after acquiring an additional 227 shares in the last quarter. Beacon Investment Advisory Services Inc. grew its position in Bank of America by 1.1% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 20,863 shares of the financial services provider’s stock valued at $828,000 after acquiring an additional 231 shares in the last quarter. Finally, Gemmer Asset Management LLC grew its position in shares of Bank of America by 1.8% during the fourth quarter. Gemmer Asset Management LLC now owns 13,183 shares of the financial services provider’s stock worth $579,000 after buying an additional 235 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Trading Down 1.8 %

NYSE:BAC opened at $45.80 on Thursday. The stock has a fifty day moving average price of $45.81 and a two-hundred day moving average price of $42.52. The stock has a market capitalization of $351.41 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.27 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. Bank of America Co. has a 1 year low of $32.35 and a 1 year high of $48.08.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.05. The firm 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%. Bank of America’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 earnings per share. As a group, sell-side analysts anticipate that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BAC. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Keefe, Bruyette & Woods boosted their price objective on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, January 7th. Morgan Stanley boosted their price objective on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Finally, Phillip Securities raised Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective for the company in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Bank of America currently has an average 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.