Mitsubishi UFJ Asset Management UK Ltd. Has $527,000 Holdings in Bank of America Co. (NYSE:BAC)

Mitsubishi UFJ Asset Management UK Ltd. lessened its holdings in Bank of America Co. (NYSE:BAC) by 55.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,000 shares of the financial services provider’s stock after selling 15,000 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.’s holdings in Bank of America were worth $527,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of BAC. Kennebec Savings Bank acquired a new stake in Bank of America during the 3rd quarter worth $29,000. Highline Wealth Partners LLC increased its holdings in 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 purchasing an additional 510 shares during the last quarter. Christopher J. Hasenberg Inc lifted its stake in Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after buying an additional 852 shares during the period. Retirement Wealth Solutions LLC bought a new position in Bank of America during the fourth quarter worth about $42,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Bank of America during the 3rd quarter worth about $45,000. 70.71% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on BAC shares. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective for the company in a research report on Friday, October 18th. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Finally, Oppenheimer increased their price target on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Price Performance

NYSE:BAC opened at $46.65 on Wednesday. The stock’s 50-day simple moving average is $45.80 and its 200 day simple moving average is $42.48. Bank of America Co. has a 52-week low of $32.32 and a 52-week high of $48.08. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market cap of $357.92 billion, a P/E ratio of 14.49, a P/E/G ratio of 1.27 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced its quarterly earnings data 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 company 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 10.29% and a net margin of 14.10%. The business’s revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.70 EPS. As a group, sell-side analysts forecast that Bank of America Co. will post 3.67 EPS for the current fiscal year.

Bank of America 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.