Cypress Wealth Services LLC Acquires 608 Shares of Bank of America Co. (NYSE:BAC)

Cypress Wealth Services LLC increased its holdings in shares of Bank of America Co. (NYSE:BAC) by 5.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,755 shares of the financial services provider’s stock after purchasing an additional 608 shares during the period. Cypress Wealth Services LLC’s holdings in Bank of America were worth $517,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Edgestream Partners L.P. acquired a new position in shares of Bank of America during the second quarter valued at about $257,000. Miramar Capital LLC increased its position in shares of Bank of America by 3.4% during the 2nd quarter. Miramar Capital LLC now owns 21,214 shares of the financial services provider’s stock valued at $844,000 after purchasing an additional 700 shares during the last quarter. Middleton & Co. Inc. MA boosted its stake in Bank of America by 8.8% in the second quarter. Middleton & Co. Inc. MA now owns 12,383 shares of the financial services provider’s stock valued at $492,000 after acquiring an additional 1,000 shares during the last quarter. Intrepid Financial Planning Group LLC increased its position in Bank of America by 1.6% in the second quarter. Intrepid Financial Planning Group LLC now owns 24,397 shares of the financial services provider’s stock worth $970,000 after buying an additional 374 shares during the last quarter. Finally, WCG Wealth Advisors LLC increased its holdings in Bank of America by 6.7% in the 2nd quarter. WCG Wealth Advisors LLC now owns 66,976 shares of the financial services provider’s stock worth $2,664,000 after acquiring an additional 4,181 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors.

Bank of America Price Performance

Shares of BAC opened at $46.65 on Friday. The firm’s fifty day simple moving average is $45.72 and its 200-day simple moving average is $42.34. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $357.91 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 1.23 and a beta of 1.33. Bank of America Co. has a twelve month low of $31.27 and a twelve month high of $48.08.

Bank of America (NYSE:BAC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period last year, the firm earned $0.70 EPS. Equities analysts forecast that Bank of America Co. will post 3.24 EPS for the current fiscal year.

Analysts Set New Price Targets

BAC has been the subject of several recent analyst reports. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective for the company in a research note on Friday, October 18th. Truist Financial began coverage on shares of Bank of America in a research report on Tuesday, January 7th. They set a “buy” rating and a $52.00 price target on the stock. 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 report on Tuesday, January 7th. Wells Fargo & Company raised their price target on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. One equities research 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $48.18.

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.