Aspire Private Capital LLC Sells 330 Shares of Bank of America Co. (NYSE:BAC)

Aspire Private Capital LLC lessened its stake in shares of Bank of America Co. (NYSE:BAC) by 1.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 20,581 shares of the financial services provider’s stock after selling 330 shares during the period. Aspire Private Capital LLC’s holdings in Bank of America were worth $905,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of BAC. Kennebec Savings Bank bought a new stake in Bank of America during the third quarter worth about $29,000. Highline Wealth Partners LLC grew its position in Bank of America by 152.7% during the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 510 shares during the last quarter. Christopher J. Hasenberg Inc raised its position in Bank of America by 525.9% in the 3rd 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 last quarter. Retirement Wealth Solutions LLC acquired a new position in Bank of America in the fourth quarter worth $42,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Bank of America during the third quarter worth $45,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Bank of America Stock Up 0.3 %

Bank of America stock opened at $46.65 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 1-year low of $32.32 and a 1-year high of $48.08. The company has a fifty day simple moving average of $45.80 and a 200 day simple moving average of $42.48. The company has a market cap of $357.92 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 1.26 and a beta of 1.33.

Bank of America (NYSE:BAC) last released its earnings results 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 business had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. Bank of America’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 earnings per share. Research analysts anticipate that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

BAC has been the topic of several research reports. Piper Sandler reduced their price target on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and increased their price target for the company from $46.00 to $54.00 in a research note on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 price objective on shares of Bank of America in a report on Wednesday, October 9th. HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, January 7th. Finally, Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, Bank of America has a consensus rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Company 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.