Clarius Group LLC Has $2.79 Million Stake in Bank of America Co. (NYSE:BAC)

Clarius Group LLC lifted its holdings in shares of Bank of America Co. (NYSE:BAC) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,578 shares of the financial services provider’s stock after purchasing an additional 1,662 shares during the quarter. Clarius Group LLC’s holdings in Bank of America were worth $2,794,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Kennebec Savings Bank bought a new position in Bank of America in the 3rd quarter valued at about $29,000. Highline Wealth Partners LLC lifted its stake in 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 purchasing an additional 510 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Bank of America in the 4th quarter valued at $42,000. Christopher J. Hasenberg Inc increased its stake 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 valued at $40,000 after purchasing an additional 852 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Bank of America during the 3rd quarter worth $45,000. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Stock Down 0.2 %

Shares of NYSE:BAC opened at $46.54 on Friday. The business’s 50-day moving average is $45.79 and its 200-day moving average is $42.42. Bank of America Co. has a 1 year low of $31.40 and a 1 year high of $48.08. The company has a market capitalization of $357.13 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 1.23 and a beta of 1.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. The firm had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 EPS. Equities research analysts predict that Bank of America Co. will post 3.24 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on BAC. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Tuesday, January 7th. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and raised their target price for the company from $43.00 to $53.00 in a research report on Tuesday, January 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $46.00 price target on shares of Bank of America in a report on Wednesday, October 9th. Finally, Wells Fargo & Company raised their price objective on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bank of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

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.