St. Johns Investment Management Company LLC Purchases 1,420 Shares of Bank of America Co. (NYSE:BAC)

St. Johns Investment Management Company LLC increased its position in shares of Bank of America Co. (NYSE:BAC) by 1.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 97,497 shares of the financial services provider’s stock after buying an additional 1,420 shares during the period. Bank of America comprises 2.0% of St. Johns Investment Management Company LLC’s portfolio, making the stock its 13th biggest holding. St. Johns Investment Management Company LLC’s holdings in Bank of America were worth $4,285,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Marino Stram & Associates LLC lifted its position in Bank of America by 1.7% during the fourth quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock worth $580,000 after purchasing an additional 222 shares during the period. Traveka Wealth LLC lifted its holdings in shares of Bank of America by 2.7% in the fourth quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock worth $382,000 after acquiring an additional 226 shares during the last quarter. Longfellow Investment Management Co. LLC grew its holdings in shares of 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 valued at $1,484,000 after purchasing an additional 227 shares during the last quarter. Beacon Investment Advisory Services Inc. increased its position in Bank of America by 1.1% during the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 20,863 shares of the financial services provider’s stock worth $828,000 after purchasing an additional 231 shares in the last quarter. Finally, Gemmer Asset Management LLC lifted its stake in Bank of America by 1.8% in the 4th quarter. Gemmer Asset Management LLC now owns 13,183 shares of the financial services provider’s stock valued at $579,000 after purchasing an additional 235 shares during the last quarter. Institutional investors and hedge funds own 70.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Barclays lifted 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 report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $46.00 price target on shares of Bank of America in a research report on Wednesday, October 9th. StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Stock Performance

NYSE BAC opened at $46.41 on Friday. Bank of America Co. has a 52-week low of $32.35 and a 52-week high of $48.08. The company has a 50-day simple moving average of $45.81 and a 200 day simple moving average of $42.55. The company has a market capitalization of $356.13 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78.

Bank of America (NYSE:BAC) last announced its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same quarter last year, the firm posted $0.70 EPS. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, research analysts predict that Bank of America Co. will post 3.67 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.