Culbertson A N & Co. Inc. Has $3.61 Million Stock Position in Bank of America Co. (NYSE:BAC)

Culbertson A N & Co. Inc. lessened its holdings in shares of Bank of America Co. (NYSE:BAC) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,177 shares of the financial services provider’s stock after selling 500 shares during the period. Culbertson A N & Co. Inc.’s holdings in Bank of America were worth $3,612,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Edgestream Partners L.P. acquired a new stake in Bank of America during the 2nd quarter valued at approximately $257,000. Pacer Advisors Inc. boosted its stake in shares of Bank of America by 2.7% in the 2nd quarter. Pacer Advisors Inc. now owns 484,549 shares of the financial services provider’s stock valued at $19,271,000 after purchasing an additional 12,611 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of 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 buying an additional 43,552 shares during the period. ProShare Advisors LLC raised its stake in Bank of America by 2.6% during the second quarter. ProShare Advisors LLC now owns 1,412,331 shares of the financial services provider’s stock worth $56,168,000 after buying an additional 35,450 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC lifted its holdings in Bank of America by 20.7% in the second quarter. Mount Yale Investment Advisors LLC now owns 7,557 shares of the financial services provider’s stock valued at $301,000 after buying an additional 1,297 shares during the period. Institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Hsbc Global Res raised Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. StockNews.com raised Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price objective on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 target price on the stock in a research report on Friday, October 18th. Finally, Truist Financial raised their price target on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a report on Friday. One 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 given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.58.

Bank of America Trading Down 0.2 %

NYSE BAC opened at $46.54 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $357.13 billion, a P/E ratio of 14.45, a PEG ratio of 1.27 and a beta of 1.33. The business has a fifty day simple moving average of $45.79 and a 200 day simple moving average of $42.44. Bank of America Co. has a 12 month low of $31.40 and a 12 month high of $48.08.

Bank of America (NYSE:BAC) last released its quarterly earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share 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 company had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same period last year, the firm earned $0.70 earnings per share. The firm’s revenue was up 15.0% on a year-over-year basis. On average, analysts predict 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.