Buffington Mohr McNeal Acquires 2,229 Shares of Bank of America Co. (NYSE:BAC)

Buffington Mohr McNeal raised its holdings in Bank of America Co. (NYSE:BAC) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 197,468 shares of the financial services provider’s stock after purchasing an additional 2,229 shares during the period. Bank of America makes up about 1.4% of Buffington Mohr McNeal’s portfolio, making the stock its 24th largest holding. Buffington Mohr McNeal’s holdings in Bank of America were worth $8,679,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BAC. Marino Stram & Associates LLC grew its position in Bank of America by 1.7% in the fourth quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock valued at $580,000 after acquiring an additional 222 shares during the last quarter. Traveka Wealth LLC grew its holdings in shares of Bank of America by 2.7% during the 4th quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 226 shares during the last quarter. Longfellow Investment Management Co. LLC increased its position in Bank of America by 0.6% during the 3rd quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider’s stock worth $1,484,000 after purchasing an additional 227 shares in the last quarter. Beacon Investment Advisory Services Inc. lifted its stake in Bank of America by 1.1% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 20,863 shares of the financial services provider’s stock valued at $828,000 after purchasing an additional 231 shares during the last quarter. Finally, Southland Equity Partners LLC boosted its position in Bank of America by 2.6% in the fourth quarter. Southland Equity Partners LLC now owns 9,016 shares of the financial services provider’s stock valued at $396,000 after buying an additional 231 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

BAC has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 price target on shares of Bank of America in a research note on Wednesday, October 9th. Wells Fargo & Company increased their target price on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Oppenheimer boosted 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. Evercore ISI cut their target price 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, January 17th. Finally, Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and upped their price target for the company from $46.00 to $54.00 in a research report on Friday, November 8th. One equities 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Price Performance

BAC opened at $47.06 on Tuesday. The firm’s fifty day moving average price is $45.82 and its two-hundred day moving average price is $42.63. The company has a market capitalization of $361.10 billion, a price-to-earnings 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 current ratio of 0.78 and a quick ratio of 0.78. Bank of America Co. has a 1 year low of $32.35 and a 1 year high of $48.08.

Bank of America (NYSE:BAC) last issued 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 business had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.70 EPS. As a group, analysts anticipate that Bank of America Co. will post 3.67 earnings per share 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.