Sanibel Captiva Trust Company Inc. Has $10.49 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

Sanibel Captiva Trust Company Inc. lessened its position in Bank of America Co. (NYSE:BAC) by 1.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 238,594 shares of the financial services provider’s stock after selling 3,231 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Bank of America were worth $10,486,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Kennebec Savings Bank acquired a new position in Bank of America during the third quarter worth $29,000. Highline Wealth Partners LLC boosted its stake in Bank of America by 152.7% during 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 during the last quarter. Christopher J. Hasenberg Inc raised its stake in shares of Bank of America by 525.9% in the third quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 852 shares during the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Bank of America in the fourth quarter valued at approximately $42,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Bank of America during the third quarter valued at approximately $45,000. 70.71% of the stock is owned by institutional investors and hedge funds.

Bank of America Stock Down 0.2 %

Shares of NYSE BAC opened at $46.54 on Friday. Bank of America Co. has a 52 week low of $31.40 and a 52 week high of $48.08. The company has a market cap of $357.13 billion, a P/E ratio of 16.93, a P/E/G ratio of 1.23 and a beta of 1.33. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. The business has a 50-day simple moving average of $45.76 and a two-hundred day simple moving average of $42.37.

Bank of America (NYSE:BAC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.82 EPS 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 analysts’ expectations of $25.12 billion. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 earnings per share. Research analysts anticipate that Bank of America Co. will post 3.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley raised their price objective on Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a research note on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 target price on shares of Bank of America in a research report on Wednesday, October 9th. Evercore ISI reduced their target price on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Friday. Oppenheimer lifted their price target on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday. Finally, HSBC raised Bank of America from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $48.58.

Bank of America 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.