Mason & Associates Inc Acquires Shares of 4,776 Bank of America Co. (NYSE:BAC)

Mason & Associates Inc bought a new position in shares of Bank of America Co. (NYSE:BAC) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 4,776 shares of the financial services provider’s stock, valued at approximately $210,000.

Other large investors have also added to or reduced their stakes in the company. Kennebec Savings Bank acquired a new stake in Bank of America during the 3rd quarter worth approximately $29,000. Highline Wealth Partners LLC boosted 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 valued at $37,000 after buying an additional 510 shares in the last quarter. Christopher J. Hasenberg Inc raised its stake 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 acquiring an additional 852 shares in the last quarter. 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 acquired a new stake in shares of Bank of America in the 3rd quarter valued at approximately $73,000. Institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

NYSE BAC opened at $46.96 on Thursday. 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 fifty day simple moving average of $45.69 and a 200 day simple moving average of $42.31. Bank of America Co. has a 12-month low of $31.27 and a 12-month high of $48.08. The company has a market cap of $360.32 billion, a P/E ratio of 17.08, a PEG ratio of 1.23 and a beta of 1.33.

Bank of America (NYSE:BAC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate 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 company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same period in the previous year, the firm posted $0.70 earnings per share. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. Sell-side analysts predict that Bank of America Co. will post 3.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BAC has been the subject of several research reports. Evercore ISI increased their price objective on shares of Bank of America from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. 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 report on Tuesday, January 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 target price on shares of Bank of America in a report on Wednesday, October 9th. Piper Sandler increased their price target on Bank of America from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company lifted their price objective on Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Bank of America presently has an average rating of “Moderate Buy” and an average price target of $47.50.

Bank of America 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.