66,334 Shares in Bank of America Co. (NYSE:BAC) Bought by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA acquired a new stake in shares of Bank of America Co. (NYSE:BAC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 66,334 shares of the financial services provider’s stock, valued at approximately $2,874,000.

Other hedge funds also recently added to or reduced their stakes in the company. Accent Capital Management LLC grew its stake in Bank of America by 43.0% in the third quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider’s stock worth $1,567,000 after purchasing an additional 11,873 shares in the last quarter. Summit Global Investments grew its position in shares of Bank of America by 237.6% in the 3rd quarter. Summit Global Investments now owns 51,278 shares of the financial services provider’s stock worth $2,035,000 after acquiring an additional 36,089 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Bank of America by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock valued at $5,546,871,000 after acquiring an additional 1,700,141 shares during the last quarter. Baker Avenue Asset Management LP raised its position in shares of Bank of America by 125.8% during the 3rd quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider’s stock valued at $2,421,000 after acquiring an additional 33,983 shares in the last quarter. Finally, Clarendon Private LLC bought a new position in Bank of America during the fourth quarter worth $798,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Piper Sandler dropped their price objective on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Morgan Stanley lifted their target price on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price objective on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Bank of America presently has an average rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Stock Up 1.2 %

BAC opened at $47.06 on Tuesday. The stock’s fifty day moving average is $45.82 and its 200-day moving average is $42.63. Bank of America Co. has a one year low of $32.35 and a one year high of $48.08. The company has a market capitalization of $361.10 billion, a PE ratio of 14.62, a P/E/G ratio of 1.24 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share 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 the consensus estimate of $25.12 billion. During the same period in the prior year, the company earned $0.70 EPS. Bank of America’s revenue was up 15.0% on a year-over-year basis. On average, equities analysts predict that Bank of America Co. will post 3.67 EPS for the current fiscal 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.