Eclectic Associates Inc. ADV Takes Position in Bank of America Co. (NYSE:BAC)

Eclectic Associates Inc. ADV purchased a new position in shares of Bank of America Co. (NYSE:BAC) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,570 shares of the financial services provider’s stock, valued at approximately $201,000.

Several other institutional investors have also added to or reduced their stakes in BAC. Kennebec Savings Bank acquired a new stake in shares of Bank of America during the third quarter worth $29,000. Highline Wealth Partners LLC increased its position in 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 worth $37,000 after acquiring an additional 510 shares during the period. Christopher J. Hasenberg Inc increased its position in 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 worth $40,000 after acquiring an additional 852 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in Bank of America in the 4th quarter worth about $42,000. Finally, Northwest Investment Counselors LLC bought a new stake in Bank of America in the 3rd quarter valued at about $45,000. 70.71% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BAC has been the subject of a number of analyst reports. Oppenheimer lifted their price target on shares of Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Evercore ISI reduced their target price on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, January 17th. UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. Truist Financial upped their price objective on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Bank of America has a consensus rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Price Performance

Shares of BAC opened at $46.48 on Friday. The business has a 50-day simple moving average of $45.82 and a two-hundred day simple moving average of $42.57. Bank of America Co. has a 12-month low of $32.35 and a 12-month high of $48.08. The stock has a market cap of $356.60 billion, a PE ratio of 14.43, a PEG ratio of 1.24 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 issued its quarterly earnings data 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. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same quarter last year, the business earned $0.70 EPS. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. Analysts anticipate that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

About Bank of America

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.