Bank of America Co. (NYSE:BAC) Shares Bought by My Legacy Advisors LLC

My Legacy Advisors LLC lifted its position in shares of Bank of America Co. (NYSE:BAC) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,115 shares of the financial services provider’s stock after buying an additional 940 shares during the period. My Legacy Advisors LLC’s holdings in Bank of America were worth $523,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in BAC. Geode Capital Management LLC increased its position 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 worth $5,546,871,000 after purchasing an additional 1,700,141 shares in the last quarter. Legal & General Group Plc grew its stake in Bank of America by 1.6% during the second quarter. Legal & General Group Plc now owns 57,539,506 shares of the financial services provider’s stock worth $2,288,347,000 after buying an additional 895,884 shares during the period. Fisher Asset Management LLC increased its position in shares of Bank of America by 4.0% in the third quarter. Fisher Asset Management LLC now owns 45,215,832 shares of the financial services provider’s stock worth $1,794,164,000 after acquiring an additional 1,731,003 shares in the last quarter. Sanders Capital LLC raised its stake in shares of Bank of America by 2.8% in 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 during the period. Finally, Diamond Hill Capital Management Inc. lifted its holdings in shares of 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. 70.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BAC has been the topic of several research reports. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and raised their price objective for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. Piper Sandler dropped their target price on Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a report on Friday. Evercore ISI reduced their price target on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday. Morgan Stanley increased their price objective on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Tuesday, January 7th. One research 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’s stock. According to data from MarketBeat, Bank of America currently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Stock Down 0.2 %

Shares of NYSE:BAC opened at $46.54 on Friday. Bank of America Co. has a 1-year low of $31.40 and a 1-year high of $48.08. The company’s fifty day moving average is $45.79 and its two-hundred day moving average is $42.42. 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 price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33.

Bank of America (NYSE:BAC) last issued its 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. The firm had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. Bank of America’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company posted $0.70 earnings per share. Equities analysts anticipate that Bank of America Co. will post 3.24 EPS for the current year.

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.