5,336 Shares in Bank of America Co. (NYSE:BAC) Bought by MFA Wealth Services

MFA Wealth Services acquired a new stake in Bank of America Co. (NYSE:BAC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,336 shares of the financial services provider’s stock, valued at approximately $235,000.

Other institutional investors have also recently modified their holdings of the company. Fred Alger Management LLC boosted its stake in shares of Bank of America by 4.8% in the second quarter. Fred Alger Management LLC now owns 187,002 shares of the financial services provider’s stock worth $7,437,000 after buying an additional 8,570 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Bank of America during the 2nd quarter worth approximately $182,000. AQR Capital Management LLC increased its holdings in shares of Bank of America by 26.8% during the 2nd quarter. AQR Capital Management LLC now owns 6,979,594 shares of the financial services provider’s stock valued at $276,252,000 after purchasing an additional 1,473,322 shares in the last quarter. Employees Retirement System of Texas lifted its stake in shares of Bank of America by 27.3% in the 2nd quarter. Employees Retirement System of Texas now owns 93,145 shares of the financial services provider’s stock valued at $3,704,000 after purchasing an additional 19,970 shares during the period. Finally, Drucker Wealth 3.0 LLC purchased a new stake in Bank of America during the second quarter worth $594,000. 70.71% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. Truist Financial boosted their price objective on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Morgan Stanley upped their price objective on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $46.00 target price on shares of Bank of America in a research report on Wednesday, October 9th. Evercore ISI reduced their price target on shares of Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Friday, January 17th. Finally, Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Trading Up 1.4 %

Shares of Bank of America stock opened at $46.41 on Friday. The company has a fifty day simple moving average of $45.81 and a 200-day simple moving average of $42.55. Bank of America Co. has a 12-month low of $32.35 and a 12-month high of $48.08. 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 stock has a market cap of $356.13 billion, a price-to-earnings ratio of 14.41, a PEG ratio of 1.24 and a beta of 1.33.

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

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.