Diversify Wealth Management LLC Has $3.49 Million Stock Holdings in Bank of America Co. (NYSE:BAC)

Diversify Wealth Management LLC grew its position in shares of Bank of America Co. (NYSE:BAC) by 41.0% in the fourth quarter, HoldingsChannel reports. The fund owned 77,379 shares of the financial services provider’s stock after acquiring an additional 22,511 shares during the period. Diversify Wealth Management LLC’s holdings in Bank of America were worth $3,491,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Traveka Wealth LLC grew its position in shares of Bank of America by 2.7% during the 4th quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock worth $382,000 after purchasing an additional 226 shares in the last quarter. Longfellow Investment Management Co. LLC boosted its stake 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 buying an additional 227 shares during the period. Beacon Investment Advisory Services Inc. grew its position in Bank of America by 1.1% during the third quarter. Beacon Investment Advisory Services Inc. now owns 20,863 shares of the financial services provider’s stock worth $828,000 after buying an additional 231 shares in the last quarter. Integrity Financial Corp WA raised its holdings in Bank of America by 1.6% in the 3rd quarter. Integrity Financial Corp WA now owns 14,875 shares of the financial services provider’s stock valued at $590,000 after acquiring an additional 240 shares in the last quarter. Finally, Cahill Financial Advisors Inc. lifted its position in shares of Bank of America by 2.1% during the 3rd quarter. Cahill Financial Advisors Inc. now owns 12,231 shares of the financial services provider’s stock valued at $485,000 after acquiring an additional 249 shares during the period. 70.71% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their price target on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research report on Wednesday, October 16th. Oppenheimer increased their price target on shares of Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday. Truist Financial boosted their price objective on shares of Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays raised their target price on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a report on Monday, January 6th. One equities 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Performance

Shares of Bank of America stock opened at $46.54 on Monday. The stock has a market cap of $357.13 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 1.23 and a beta of 1.33. Bank of America Co. has a twelve month low of $31.40 and a twelve month high of $48.08. The company’s fifty day moving average is $45.79 and its 200 day moving average is $42.43. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09.

Bank of America (NYSE:BAC) last issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.05. The company 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 business’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 earnings per share. Sell-side analysts forecast that Bank of America Co. will post 3.24 EPS for the current 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.