Bank of America Co. (NYSE:BAC) Shares Sold by Mitchell & Pahl Private Wealth LLC

Mitchell & Pahl Private Wealth LLC reduced its stake in shares of Bank of America Co. (NYSE:BAC) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,548 shares of the financial services provider’s stock after selling 759 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in Bank of America were worth $1,211,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ballentine Partners LLC increased its position in Bank of America by 2.4% during the fourth quarter. Ballentine Partners LLC now owns 146,331 shares of the financial services provider’s stock worth $6,431,000 after buying an additional 3,422 shares in the last quarter. ZWJ Investment Counsel Inc. boosted its stake in shares of Bank of America by 0.9% during the fourth quarter. ZWJ Investment Counsel Inc. now owns 67,959 shares of the financial services provider’s stock valued at $2,987,000 after acquiring an additional 638 shares during the last quarter. Pure Financial Advisors LLC increased its position in Bank of America by 10.6% during the 4th quarter. Pure Financial Advisors LLC now owns 31,429 shares of the financial services provider’s stock worth $1,381,000 after purchasing an additional 3,005 shares in the last quarter. Tudor Financial Inc. raised its stake in Bank of America by 24.5% in the 4th quarter. Tudor Financial Inc. now owns 20,246 shares of the financial services provider’s stock valued at $890,000 after purchasing an additional 3,982 shares during the last quarter. Finally, Mountain Pacific Investment Advisers LLC lifted its holdings in Bank of America by 10.7% in the 4th quarter. Mountain Pacific Investment Advisers LLC now owns 10,786 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 1,043 shares in the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

NYSE:BAC opened at $46.54 on Tuesday. Bank of America Co. has a twelve month low of $31.40 and a twelve month high of $48.08. The firm has a market capitalization of $357.13 billion, a price-to-earnings ratio of 14.45, a PEG ratio of 1.27 and a beta of 1.33. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm’s fifty day simple moving average is $45.79 and its 200 day simple moving average is $42.44.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Phillip Securities upgraded Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a report on Friday, October 18th. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Morgan Stanley increased their target price on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

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.