Bank of America Co. (NYSE:BAC) Shares Bought by KBC Group NV

KBC Group NV grew its holdings in shares of Bank of America Co. (NYSE:BAC) by 130.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,692,279 shares of the financial services provider’s stock after purchasing an additional 5,493,817 shares during the period. Bank of America makes up about 1.2% of KBC Group NV’s portfolio, making the stock its 13th biggest holding. KBC Group NV owned about 0.13% of Bank of America worth $425,976,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Kennebec Savings Bank acquired a new stake in Bank of America during the 3rd quarter worth about $29,000. Highline Wealth Partners LLC increased its holdings in 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 worth $37,000 after buying an additional 510 shares during the period. Christopher J. Hasenberg Inc raised its position 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 acquired a new stake in Bank of America during the 4th quarter valued at approximately $42,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Bank of America in the third quarter worth $45,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

BAC has been the subject of a number of research reports. Barclays boosted their target price on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company upped their target price on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, January 7th. Morgan Stanley boosted their target price on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. Finally, Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $46.00 to $54.00 in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Trading Up 0.2 %

BAC opened at $46.48 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm has a market cap of $356.60 billion, a P/E ratio of 14.43, a P/E/G ratio of 1.24 and a beta of 1.33. Bank of America Co. has a 52 week low of $32.35 and a 52 week high of $48.08. The business has a fifty day simple moving average of $45.82 and a 200-day simple moving average of $42.62.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The company had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same period in the prior year, the firm earned $0.70 earnings per share. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities analysts expect 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.