Hantz Financial Services Inc. Lowers Holdings in Bank of America Co. (NYSE:BAC)

Hantz Financial Services Inc. lessened its stake in Bank of America Co. (NYSE:BAC) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 264,573 shares of the financial services provider’s stock after selling 9,114 shares during the period. Hantz Financial Services Inc.’s holdings in Bank of America were worth $11,628,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Kennebec Savings Bank acquired a new position in shares of Bank of America in the 3rd quarter valued at $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 buying an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc raised its position in shares of 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 worth $40,000 after acquiring an additional 852 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in shares of Bank of America during the 4th quarter valued at about $42,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Bank of America in the 3rd quarter valued at about $45,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Down 0.4 %

Shares of NYSE:BAC opened at $46.88 on Wednesday. The business has a 50-day moving average price of $45.83 and a 200 day moving average price of $42.70. Bank of America Co. has a 12-month low of $32.35 and a 12-month high of $48.08. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $359.70 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 1.24 and a beta of 1.33.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same period in the previous year, the firm earned $0.70 EPS. The business’s revenue was up 15.0% on a year-over-year basis. Sell-side analysts expect that Bank of America Co. will post 3.67 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on BAC. 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. Barclays boosted their target price 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. UBS Group raised shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. Truist Financial increased their price objective on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Finally, Morgan Stanley boosted their price target on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.58.

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.