ERn Financial LLC Grows Holdings in Bank of America Co. (NYSE:BAC)

ERn Financial LLC lifted its holdings in Bank of America Co. (NYSE:BAC) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,979 shares of the financial services provider’s stock after buying an additional 709 shares during the period. ERn Financial LLC’s holdings in Bank of America were worth $966,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of BAC. Kennebec Savings Bank purchased a new stake in shares of Bank of America during the third quarter worth $29,000. Highline Wealth Partners LLC grew 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 valued at $37,000 after acquiring an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc increased its holdings in Bank of America by 525.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 852 shares during the period. Northwest Investment Counselors LLC bought a new position in Bank of America in the 3rd quarter valued at $45,000. Finally, Truvestments Capital LLC purchased a new position in shares of Bank of America during the 3rd quarter valued at $73,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on BAC shares. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. UBS Group raised Bank of America from a “neutral” rating to a “buy” rating and raised their price objective for the company from $43.00 to $53.00 in a report on Tuesday, January 7th. Barclays lifted their price target on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Piper Sandler increased their target price on shares of Bank of America from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Finally, Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and an average target price of $47.50.

Bank of America Stock Performance

BAC stock opened at $47.23 on Thursday. 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 Co. has a 1 year low of $31.27 and a 1 year high of $48.08. The company has a market cap of $362.39 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. The stock’s fifty day moving average price is $45.69 and its 200-day moving average price is $42.31.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The business had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.25 billion. During the same period in the previous year, the company posted $0.90 EPS. The business’s quarterly revenue was up .4% compared to the same quarter last year. On average, equities analysts forecast that Bank of America Co. will post 3.24 earnings per share for the current year.

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.