Flagship Harbor Advisors LLC Has $1.49 Million Stock Position in Bank of America Co. (NYSE:BAC)

Flagship Harbor Advisors LLC lessened its stake in Bank of America Co. (NYSE:BAC) by 9.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,886 shares of the financial services provider’s stock after selling 3,610 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Bank of America were worth $1,489,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BAC. Kennebec Savings Bank bought a new position in Bank of America during the 3rd quarter worth about $29,000. Highline Wealth Partners LLC grew its holdings 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 worth $37,000 after buying an additional 510 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in Bank of America in the 4th quarter valued at approximately $42,000. Christopher J. Hasenberg Inc lifted its stake in 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 valued at $40,000 after acquiring an additional 852 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in Bank of America during the 3rd quarter worth approximately $45,000. Institutional investors own 70.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BAC shares. Wells Fargo & Company boosted their price objective on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $54.00 in a research note on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 target price on shares of Bank of America in a research report on Wednesday, October 9th. Piper Sandler reduced their price target on Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Finally, Oppenheimer boosted their price target on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. One investment 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 stock. According to data from MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Stock Performance

NYSE:BAC opened at $46.48 on Monday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The stock has a 50 day simple moving average of $45.82 and a 200 day simple moving average of $42.62. Bank of America Co. has a 1-year low of $32.35 and a 1-year high of $48.08. The stock has a market cap of $356.60 billion, a P/E ratio of 14.43, a PEG ratio of 1.24 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $25.12 billion. During the same quarter in the previous year, the business posted $0.70 earnings per share. Bank of America’s quarterly revenue was up 15.0% on a year-over-year basis. Research analysts anticipate that Bank of America Co. will post 3.67 earnings per share for the current 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.