Madison Park Capital Advisors LLC Has $340,000 Position in Bank of America Co. (NYSE:BAC)

Madison Park Capital Advisors LLC boosted its holdings in shares of Bank of America Co. (NYSE:BAC) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,747 shares of the financial services provider’s stock after buying an additional 323 shares during the period. Madison Park Capital Advisors LLC’s holdings in Bank of America were worth $340,000 as of its most recent SEC filing.

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

Bank of America Stock Performance

Shares of BAC stock opened at $46.65 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market cap of $357.92 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 1.26 and a beta of 1.33. The stock has a 50-day moving average of $45.81 and a 200-day moving average of $42.52. Bank of America Co. has a one year low of $32.32 and a one year high of $48.08.

Bank of America (NYSE:BAC) last announced its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.05. The company had revenue of $25.30 billion during 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%. Bank of America’s revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 EPS. As a group, sell-side analysts expect that Bank of America Co. will post 3.67 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on BAC shares. Morgan Stanley boosted their target price on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday, January 17th. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, January 7th. Hsbc Global Res upgraded shares of Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. Truist Financial boosted their target price on shares of Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Finally, Oppenheimer upped their price target on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, January 17th. One research 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 stock. According to MarketBeat.com, the company currently 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.