LVW Advisors LLC Has $1.39 Million Stake in Bank of America Co. (NYSE:BAC)

LVW Advisors LLC trimmed its position in Bank of America Co. (NYSE:BAC) by 16.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 31,584 shares of the financial services provider’s stock after selling 6,266 shares during the period. LVW Advisors LLC’s holdings in Bank of America were worth $1,388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Edgestream Partners L.P. acquired a new position in Bank of America during the second quarter worth $257,000. Benjamin F. Edwards & Company Inc. raised its stake in Bank of America by 7.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 97,751 shares of the financial services provider’s stock worth $3,887,000 after acquiring an additional 6,385 shares in the last quarter. Pacer Advisors Inc. raised its stake in Bank of America by 2.7% during the second quarter. Pacer Advisors Inc. now owns 484,549 shares of the financial services provider’s stock worth $19,271,000 after acquiring an additional 12,611 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in Bank of America by 186.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 66,881 shares of the financial services provider’s stock worth $2,660,000 after acquiring an additional 43,552 shares in the last quarter. Finally, Hancock Whitney Corp raised its stake in Bank of America by 0.6% during the second quarter. Hancock Whitney Corp now owns 90,518 shares of the financial services provider’s stock worth $3,600,000 after acquiring an additional 508 shares in the last quarter. 70.71% of the stock is currently owned by institutional investors and hedge funds.

Bank of America Price Performance

Shares of BAC opened at $46.54 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.09. Bank of America Co. has a 1 year low of $31.40 and a 1 year high of $48.08. The stock has a market cap of $357.13 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33. The stock’s 50-day moving average price is $45.79 and its two-hundred day moving average price is $42.43.

Bank of America (NYSE:BAC) last issued its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a return on equity of 10.09% and a net margin of 12.48%. The firm had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. During the same quarter last year, the business earned $0.70 earnings per share. The company’s revenue was up 15.0% compared to the same quarter last year. On average, equities analysts predict that Bank of America Co. will post 3.24 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. HSBC upgraded Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Tuesday, January 7th. Evercore ISI dropped their price objective on Bank of America from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday. Wells Fargo & Company raised their target price on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. StockNews.com upgraded Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.58.

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.