MKT Advisors LLC Has $459,000 Holdings in Bank of America Co. (NYSE:BAC)

MKT Advisors LLC raised its stake in shares of Bank of America Co. (NYSE:BAC) by 20.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,866 shares of the financial services provider’s stock after buying an additional 1,690 shares during the quarter. MKT Advisors LLC’s holdings in Bank of America were worth $459,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kennebec Savings Bank acquired a new position in Bank of America in the third quarter valued at about $29,000. Highline Wealth Partners LLC grew 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 purchasing an additional 510 shares during the period. Christopher J. Hasenberg Inc increased its stake 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 purchasing an additional 852 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in Bank of America in the fourth quarter valued at approximately $42,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Bank of America in the third quarter valued at approximately $45,000. 70.71% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BAC. Wells Fargo & Company raised their price objective on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Truist Financial increased their price objective on Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, January 17th. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and boosted their target price for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. Finally, Evercore ISI lowered their price objective on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Price Performance

NYSE:BAC opened at $46.48 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 12-month low of $32.35 and a 12-month high of $48.08. The stock’s 50 day moving average price is $45.82 and its two-hundred day moving average price is $42.61. The firm has a market capitalization of $356.60 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 1.24 and a beta of 1.33.

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