Sawyer & Company Inc Lowers Holdings in Bank of America Co. (NYSE:BAC)

Sawyer & Company Inc reduced its position in Bank of America Co. (NYSE:BAC) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,607 shares of the financial services provider’s stock after selling 358 shares during the quarter. Sawyer & Company Inc’s holdings in Bank of America were worth $510,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Morgan Stanley cut shares of Bank of America from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $48.00 to $55.00 in a report on Monday, December 9th. Wells Fargo & Company lifted their price objective on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Truist Financial assumed coverage on shares of Bank of America in a research report on Tuesday, January 7th. They set a “buy” rating and a $52.00 target price for the company. Finally, Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $47.50.

Bank of America Price Performance

Shares of NYSE:BAC opened at $47.23 on Thursday. Bank of America Co. has a twelve month low of $31.27 and a twelve month high of $48.08. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09. The company has a market cap of $362.39 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. The company’s 50 day moving average is $45.69 and its 200 day moving average is $42.31.

Bank of America (NYSE:BAC) last released its quarterly earnings data on Tuesday, October 15th. The financial services provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.03. The firm had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.25 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 earnings per share. On average, sell-side analysts forecast that Bank of America Co. will post 3.24 EPS 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.