Folger Nolan Fleming Douglas Capital Management Inc. Decreases Stake in Bank of America Co. (NYSE:BAC)

Folger Nolan Fleming Douglas Capital Management Inc. lessened its position in shares of Bank of America Co. (NYSE:BAC) by 8.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,774 shares of the financial services provider’s stock after selling 3,325 shares during the quarter. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Bank of America were worth $1,528,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Kennebec Savings Bank purchased a new position in shares of Bank of America in the third quarter valued at $29,000. Highline Wealth Partners LLC lifted its position in Bank of America by 152.7% during the fourth 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 last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Bank of America in the 4th quarter worth $42,000. Christopher J. Hasenberg Inc increased its holdings in shares of Bank of America by 525.9% in 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. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Bank of America in the 3rd quarter worth about $45,000. Institutional investors own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BAC shares. Morgan Stanley lifted their price target on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Tuesday, January 7th. Wells Fargo & Company increased their price target on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Evercore ISI cut 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 research report on Friday. Finally, Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price for the company in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Trading Down 0.2 %

BAC opened at $46.54 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. The stock’s fifty day moving average is $45.76 and its two-hundred day moving average is $42.37. The company has a market capitalization of $357.13 billion, a P/E ratio of 16.93, a PEG ratio of 1.23 and a beta of 1.33. Bank of America Co. has a 52 week low of $31.40 and a 52 week 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 for the quarter, beating 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 firm had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same period in the previous year, the company posted $0.70 earnings per share. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. Analysts forecast that Bank of America Co. will post 3.24 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.