Daymark Wealth Partners LLC Increases Holdings in Bank of America Co. (NYSE:BAC)

Daymark Wealth Partners LLC raised its stake in Bank of America Co. (NYSE:BAC) by 6.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,024 shares of the financial services provider’s stock after acquiring an additional 3,496 shares during the period. Daymark Wealth Partners LLC’s holdings in Bank of America were worth $2,594,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Kennebec Savings Bank bought a new stake in Bank of America during the 3rd quarter valued at about $29,000. Highline Wealth Partners LLC grew its holdings in shares of Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock valued at $37,000 after buying an additional 510 shares during the last quarter. Christopher J. Hasenberg Inc increased its position in shares of Bank of America by 525.9% during the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 852 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Bank of America in the 4th quarter worth approximately $42,000. Finally, Northwest Investment Counselors LLC bought a new position in Bank of America in the 3rd quarter valued at approximately $45,000. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BAC shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $46.00 price objective on shares of Bank of America in a research report on Wednesday, October 9th. Truist Financial lifted their price target on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Barclays increased their price objective on shares of Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Phillip Securities raised shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price for the company in a research report on Friday, October 18th. Finally, Piper Sandler dropped their price target on Bank of America from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Price Performance

NYSE:BAC opened at $45.80 on Thursday. The business’s 50-day simple moving average is $45.81 and its two-hundred day simple moving average is $42.52. Bank of America Co. has a 52 week low of $32.35 and a 52 week high of $48.08. The stock has a market cap of $351.41 billion, a PE ratio of 14.22, a P/E/G ratio of 1.27 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04.

Bank of America (NYSE:BAC) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. The business had revenue of $25.30 billion during 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%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 EPS. As a group, 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.