Albert D Mason Inc. Lowers Stock Position in Bank of America Co. (NYSE:BAC)

Albert D Mason Inc. trimmed its position in Bank of America Co. (NYSE:BAC) by 1.3% in the 4th quarter, HoldingsChannel reports. The fund owned 16,805 shares of the financial services provider’s stock after selling 225 shares during the quarter. Albert D Mason Inc.’s holdings in Bank of America were worth $739,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kennebec Savings Bank purchased a new stake in shares of Bank of America in the third quarter worth $29,000. Highline Wealth Partners LLC boosted its holdings in Bank of America by 152.7% in the 4th 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 during the period. Christopher J. Hasenberg Inc increased 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 worth $40,000 after buying an additional 852 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in Bank of America during the third quarter valued at about $45,000. Finally, Truvestments Capital LLC purchased a new position in shares of Bank of America in the third quarter valued at about $73,000. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Down 0.2 %

NYSE BAC opened at $46.54 on Friday. Bank of America Co. has a 52 week low of $31.40 and a 52 week high of $48.08. The firm has a market capitalization of $357.13 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 1.23 and a beta of 1.33. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. The company has a fifty day moving average of $45.76 and a two-hundred day moving average of $42.37.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. During the same period in the previous year, the company earned $0.70 EPS. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, analysts predict that Bank of America Co. will post 3.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Morgan Stanley increased their target price on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday. Evercore ISI reduced their price objective on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price on the stock in a report on Friday, October 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 target price on shares of Bank of America in a research note on Wednesday, October 9th. Finally, StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.58.

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.