Buttonwood Financial Advisors Inc. Lowers Stock Holdings in Bank of America Co. (NYSE:BAC)

Buttonwood Financial Advisors Inc. lessened its holdings in Bank of America Co. (NYSE:BAC) by 9.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 28,486 shares of the financial services provider’s stock after selling 3,033 shares during the period. Buttonwood Financial Advisors Inc.’s holdings in Bank of America were worth $1,252,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BAC. Kennebec Savings Bank purchased a new stake in shares of Bank of America during the third quarter worth about $29,000. Highline Wealth Partners LLC grew its holdings in Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after buying an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc raised its position in shares of Bank of America by 525.9% during the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after buying an additional 852 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Bank of America in the fourth quarter worth $42,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Bank of America during the third quarter worth $45,000. 70.71% of the stock is owned by institutional investors.

Bank of America Trading Up 0.2 %

Shares of NYSE:BAC opened at $46.48 on Monday. The firm has a market capitalization 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. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The business’s 50-day moving average is $45.82 and its 200 day moving average is $42.63. 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 announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $25.12 billion. During the same period in the prior year, the company earned $0.70 earnings per share. The company’s revenue was up 15.0% on a year-over-year basis. On average, research analysts predict that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on BAC shares. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price objective on shares of Bank of America in a report on Wednesday, October 9th. Truist Financial raised their price target on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a report on Friday, January 17th. Keefe, Bruyette & Woods increased their target price on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

About Bank of America

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.