MassMutual Private Wealth & Trust FSB Has $30.49 Million Holdings in Bank of America Co. (NYSE:BAC)

MassMutual Private Wealth & Trust FSB decreased its holdings in shares of Bank of America Co. (NYSE:BAC) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 693,824 shares of the financial services provider’s stock after selling 9,014 shares during the quarter. Bank of America makes up about 0.9% of MassMutual Private Wealth & Trust FSB’s investment portfolio, making the stock its 28th biggest holding. MassMutual Private Wealth & Trust FSB’s holdings in Bank of America were worth $30,494,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in Bank of America by 1.2% in the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock valued at $5,546,871,000 after acquiring an additional 1,700,141 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Bank of America by 1.6% during the second quarter. Legal & General Group Plc now owns 57,539,506 shares of the financial services provider’s stock worth $2,288,347,000 after purchasing an additional 895,884 shares during the period. Fisher Asset Management LLC increased its position in Bank of America by 4.0% during the 3rd quarter. Fisher Asset Management LLC now owns 45,215,832 shares of the financial services provider’s stock worth $1,794,164,000 after buying an additional 1,731,003 shares during the period. Sanders Capital LLC increased its position in Bank of America by 2.8% during the third quarter. Sanders Capital LLC now owns 22,341,213 shares of the financial services provider’s stock worth $886,499,000 after acquiring an additional 601,211 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its position in shares of Bank of America by 0.4% in the third quarter. Diamond Hill Capital Management Inc. now owns 17,042,952 shares of the financial services provider’s stock valued at $676,264,000 after buying an additional 59,853 shares in the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Price Performance

Bank of America stock opened at $46.54 on Monday. The stock’s 50 day moving average is $45.79 and its 200 day moving average is $42.43. Bank of America Co. has a one year low of $31.40 and a one year high of $48.08. The firm has a market cap of $357.13 billion, a P/E 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 issued 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. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The firm had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter in the previous year, the company earned $0.70 EPS. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. As a group, research analysts expect that Bank of America Co. will post 3.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BAC shares. Piper Sandler cut their price objective on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Friday. 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 raised Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price target on shares of Bank of America in a report on Wednesday, October 9th. Finally, Evercore ISI reduced their price objective on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of America has an average rating of “Moderate Buy” and a consensus price target 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.