Apella Capital LLC Purchases 463 Shares of Bank of America Co. (NYSE:BAC)

Apella Capital LLC boosted its position in Bank of America Co. (NYSE:BAC) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,333 shares of the financial services provider’s stock after purchasing an additional 463 shares during the period. Apella Capital LLC’s holdings in Bank of America were worth $498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of BAC. Kennebec Savings Bank purchased a new position in Bank of America during the 3rd quarter valued at $29,000. Highline Wealth Partners LLC lifted its position in shares of Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 510 shares during the last quarter. Christopher J. Hasenberg Inc boosted its stake in shares of 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 valued at $40,000 after purchasing an additional 852 shares during the period. Northwest Investment Counselors LLC bought a new position in shares of Bank of America in the third quarter worth about $45,000. Finally, Truvestments Capital LLC purchased a new position in Bank of America in the 3rd quarter worth about $73,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

Shares of NYSE BAC opened at $47.23 on Thursday. Bank of America Co. has a fifty-two week low of $31.27 and a fifty-two week high of $48.08. The company has a market cap of $362.39 billion, a PE ratio of 17.17, a P/E/G ratio of 1.55 and a beta of 1.33. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.80 and a current ratio of 0.80. The business has a 50-day simple moving average of $45.69 and a two-hundred day simple moving average of $42.31.

Bank of America (NYSE:BAC) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, topping 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 company had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.25 billion. During the same period last year, the business earned $0.90 EPS. Bank of America’s revenue for the quarter was up .4% on a year-over-year basis. As a group, equities analysts expect that Bank of America Co. will post 3.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BAC has been the topic of a number of research analyst reports. Piper Sandler upped their target price 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. 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 raised Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price target on shares of Bank of America in a research report on Wednesday, October 9th. Finally, Oppenheimer decreased their price objective on Bank of America from $57.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.