Premier Path Wealth Partners LLC Acquires 451 Shares of Bank of America Co. (NYSE:BAC)

Premier Path Wealth Partners LLC raised its stake in shares of Bank of America Co. (NYSE:BAC) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,631 shares of the financial services provider’s stock after purchasing an additional 451 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Bank of America were worth $1,962,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Traveka Wealth LLC grew its position in 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 valued at $382,000 after acquiring an additional 226 shares during the period. Longfellow Investment Management Co. LLC boosted its stake in shares of Bank of America by 0.6% in 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 in the last quarter. Beacon Investment Advisory Services Inc. grew its holdings in shares of Bank of America by 1.1% in 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 during the last quarter. Integrity Financial Corp WA increased its position in shares of Bank of America by 1.6% during the 3rd quarter. Integrity Financial Corp WA now owns 14,875 shares of the financial services provider’s stock worth $590,000 after purchasing an additional 240 shares in the last quarter. Finally, Cahill Financial Advisors Inc. lifted its holdings in Bank of America by 2.1% during the 3rd quarter. Cahill Financial Advisors Inc. now owns 12,231 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 249 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors.

Bank of America Price Performance

Shares of BAC opened at $46.54 on Friday. The stock has a market cap of $357.13 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. Bank of America Co. has a 1 year low of $31.40 and a 1 year high of $48.08. The stock’s 50-day moving average price is $45.76 and its two-hundred day moving average price is $42.37. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09.

Bank of America (NYSE:BAC) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The firm had revenue of $25.30 billion during the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.70 earnings per share. On average, equities analysts predict that Bank of America Co. will post 3.24 earnings per share for the current year.

Analyst Ratings Changes

BAC has been the topic of several research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 price objective on shares of Bank of America in a research note on Wednesday, October 9th. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Tuesday, January 7th. Oppenheimer boosted their price objective on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday. Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.58.

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.