LongView Wealth Management Acquires 1,408 Shares of Bank of America Co. (NYSE:BAC)

LongView Wealth Management lifted its holdings in shares of Bank of America Co. (NYSE:BAC) by 12.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,823 shares of the financial services provider’s stock after purchasing an additional 1,408 shares during the quarter. LongView Wealth Management’s holdings in Bank of America were worth $564,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in BAC. Two Sigma Advisers LP raised its holdings in Bank of America by 31,021.6% in the 3rd quarter. Two Sigma Advisers LP now owns 10,207,900 shares of the financial services provider’s stock valued at $405,049,000 after acquiring an additional 10,175,100 shares in the last quarter. 1832 Asset Management L.P. lifted its position in Bank of America by 1,432.1% during the second quarter. 1832 Asset Management L.P. now owns 6,151,042 shares of the financial services provider’s stock worth $244,627,000 after purchasing an additional 5,749,567 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its holdings in Bank of America by 193.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,608,305 shares of the financial services provider’s stock valued at $301,898,000 after buying an additional 5,015,378 shares during the period. International Assets Investment Management LLC raised its position in Bank of America by 3,550.7% during the third quarter. International Assets Investment Management LLC now owns 4,547,788 shares of the financial services provider’s stock valued at $1,804,560,000 after purchasing an additional 4,423,215 shares in the last quarter. Finally, D1 Capital Partners L.P. acquired a new stake in shares of Bank of America in the 3rd quarter valued at $174,858,000. 70.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on BAC shares. Truist Financial raised their price objective on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Oppenheimer increased their price target on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and upped their target price for the stock from $46.00 to $54.00 in a report on Friday, November 8th. One investment 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. Based on data from MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Price Performance

Shares of BAC opened at $46.54 on Friday. The firm has a market cap of $357.13 billion, a PE ratio of 16.93, a price-to-earnings-growth 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. 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 business’s 50 day moving average price is $45.76 and its two-hundred day moving average price is $42.37.

Bank of America (NYSE:BAC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.77 by $0.05. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The company 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 firm posted $0.70 earnings per share. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, equities analysts anticipate that Bank of America Co. will post 3.24 EPS for the current year.

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.