Barry Investment Advisors LLC Has $548,000 Stock Position in Bank of America Co. (NYSE:BAC)

Barry Investment Advisors LLC lowered its stake in Bank of America Co. (NYSE:BAC) by 15.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,467 shares of the financial services provider’s stock after selling 2,352 shares during the period. Barry Investment Advisors LLC’s holdings in Bank of America were worth $548,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Kennebec Savings Bank acquired a new stake in Bank of America in the third quarter valued at approximately $29,000. Highline Wealth Partners LLC raised its stake in shares of 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 acquiring an additional 510 shares during the last quarter. Christopher J. Hasenberg Inc raised its stake 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 acquiring an additional 852 shares during the last quarter. Retirement Wealth Solutions LLC bought a new position in Bank of America during the fourth quarter worth $42,000. Finally, Northwest Investment Counselors LLC bought a new position in Bank of America during the third quarter worth $45,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Performance

NYSE BAC opened at $46.88 on Wednesday. The company’s 50 day moving average is $45.82 and its 200-day moving average is $42.67. Bank of America Co. has a 12-month low of $32.35 and a 12-month high of $48.08. 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 $359.70 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33.

Bank of America (NYSE:BAC) last posted 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 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 quarter in the previous year, the firm posted $0.70 earnings per share. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. Sell-side analysts predict that Bank of America Co. will post 3.67 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BAC shares. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 target price on shares of Bank of America in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their target price on shares of Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Oppenheimer lifted their target price on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, January 7th. Finally, Evercore ISI decreased their price target on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and an average 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.