Harel Insurance Investments & Financial Services Ltd. Acquires 7,133 Shares of Bank of America Co. (NYSE:BAC)

Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of Bank of America Co. (NYSE:BAC) by 11.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 68,955 shares of the financial services provider’s stock after acquiring an additional 7,133 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Bank of America were worth $3,031,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Kennebec Savings Bank acquired a new stake in shares of Bank of America in the 3rd quarter valued at about $29,000. Highline Wealth Partners LLC lifted its stake in shares of Bank of America by 152.7% in the fourth 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 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 acquiring an additional 852 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in Bank of America during the fourth quarter worth $42,000. Finally, Northwest Investment Counselors LLC purchased a new position in Bank of America during the 3rd quarter worth $45,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BAC has been the topic of several recent analyst reports. Piper Sandler dropped their target price on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and upped their price objective for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. HSBC raised shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Tuesday, January 7th. Morgan Stanley raised their price target on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company upped their price objective on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Bank of America has a consensus rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Stock Up 0.2 %

BAC opened at $46.48 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. Bank of America Co. has a one year low of $32.35 and a one year high of $48.08. The firm has a market capitalization of $356.60 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. The company has a fifty day moving average price of $45.82 and a 200-day moving average price of $42.57.

Bank of America (NYSE:BAC) last announced its earnings results 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 business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 EPS. Equities research analysts expect that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Bank of America Company 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.