Radnor Capital Management LLC Sells 5,150 Shares of Bank of America Co. (NYSE:BAC)

Radnor Capital Management LLC decreased its holdings in Bank of America Co. (NYSE:BAC) by 42.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,855 shares of the financial services provider’s stock after selling 5,150 shares during the quarter. Radnor Capital Management LLC’s holdings in Bank of America were worth $301,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. WealthPLAN Partners LLC lifted its position in shares of Bank of America by 2.6% during the 2nd quarter. WealthPLAN Partners LLC now owns 28,826 shares of the financial services provider’s stock worth $1,146,000 after buying an additional 717 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Bank of America during the 2nd quarter worth approximately $257,000. Bradley Foster & Sargent Inc. CT lifted its position in shares of Bank of America by 1.7% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 275,411 shares of the financial services provider’s stock worth $10,953,000 after buying an additional 4,723 shares in the last quarter. E Fund Management Co. Ltd. lifted its position in shares of Bank of America by 16.3% during the 2nd quarter. E Fund Management Co. Ltd. now owns 45,322 shares of the financial services provider’s stock worth $1,802,000 after buying an additional 6,355 shares in the last quarter. Finally, Meridian Wealth Partners LLC lifted its position in shares of Bank of America by 7.7% during the 2nd quarter. Meridian Wealth Partners LLC now owns 8,303 shares of the financial services provider’s stock worth $330,000 after buying an additional 595 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Up 3.2 %

BAC opened at $47.23 on Thursday. The company has a fifty day moving average price of $45.69 and a 200-day moving average price of $42.31. The firm has a market capitalization of $362.39 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 1.55 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 Co. has a one year low of $31.27 and a one year high of $48.08.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. 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 during the quarter, compared to analyst estimates of $25.25 billion. During the same period in the previous year, the business earned $0.90 EPS. The business’s revenue for the quarter was up .4% on a year-over-year basis. Equities research analysts expect that Bank of America Co. will post 3.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on BAC. 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. Piper Sandler raised their price target on shares of Bank of America from $44.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $46.00 to $54.00 in a research note on Friday, November 8th. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Tuesday, January 7th. Finally, Oppenheimer decreased their price target on shares of Bank of America from $57.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Bank of America currently has an average rating of “Moderate Buy” and an average price target of $47.50.

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.