Goelzer Investment Management Inc. Has $10.07 Million Holdings in Bank of America Co. (NYSE:BAC)

Goelzer Investment Management Inc. decreased its position in shares of Bank of America Co. (NYSE:BAC) by 0.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 229,046 shares of the financial services provider’s stock after selling 2,011 shares during the period. Bank of America accounts for 0.6% of Goelzer Investment Management Inc.’s investment portfolio, making the stock its 29th biggest holding. Goelzer Investment Management Inc.’s holdings in Bank of America were worth $10,067,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Marino Stram & Associates LLC boosted its stake in Bank of America by 1.7% during the 4th quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock valued at $580,000 after purchasing an additional 222 shares during the period. Traveka Wealth LLC lifted its holdings in shares of Bank of America by 2.7% during the fourth quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock worth $382,000 after buying an additional 226 shares during the last quarter. Longfellow Investment Management Co. LLC boosted its position in shares of Bank of America by 0.6% in the third quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider’s stock valued at $1,484,000 after acquiring an additional 227 shares during the period. Beacon Investment Advisory Services Inc. grew its stake in shares of Bank of America by 1.1% in the third quarter. Beacon Investment Advisory Services Inc. now owns 20,863 shares of the financial services provider’s stock worth $828,000 after acquiring an additional 231 shares during the last quarter. Finally, Southland Equity Partners LLC increased its position in Bank of America by 2.6% during the fourth quarter. Southland Equity Partners LLC now owns 9,016 shares of the financial services provider’s stock worth $396,000 after acquiring an additional 231 shares during the period. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BAC. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 price target on shares of Bank of America in a report on Wednesday, October 9th. Evercore ISI decreased their target price on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Barclays upped their price target on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $46.00 to $54.00 in a report on Friday, November 8th. Finally, Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Bank of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Performance

NYSE:BAC opened at $46.48 on Friday. The stock has a market capitalization of $356.60 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33. Bank of America Co. has a 1 year low of $32.35 and a 1 year high of $48.08. The firm has a 50 day moving average of $45.82 and a 200-day moving average of $42.57. 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 (NYSE:BAC) last posted its quarterly earnings data on Thursday, January 16th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same quarter in the previous year, the firm earned $0.70 earnings per share. The business’s revenue was up 15.0% on a year-over-year basis. As a group, sell-side analysts anticipate 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.