Bank of America Co. (NYSE:BAC) Shares Sold by Howard Capital Management Group LLC

Howard Capital Management Group LLC lessened its holdings in shares of Bank of America Co. (NYSE:BAC) by 19.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,746 shares of the financial services provider’s stock after selling 3,890 shares during the quarter. Howard Capital Management Group LLC’s holdings in Bank of America were worth $692,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Accent Capital Management LLC boosted its position in Bank of America by 43.0% during the third quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider’s stock worth $1,567,000 after acquiring an additional 11,873 shares during the last quarter. Summit Global Investments boosted its holdings in shares of Bank of America by 237.6% during the 3rd quarter. Summit Global Investments now owns 51,278 shares of the financial services provider’s stock worth $2,035,000 after purchasing an additional 36,089 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Bank of America by 1.2% in the third quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock valued at $5,546,871,000 after purchasing an additional 1,700,141 shares in the last quarter. Baker Avenue Asset Management LP increased its holdings in shares of Bank of America by 125.8% in the third quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider’s stock valued at $2,421,000 after purchasing an additional 33,983 shares during the last quarter. Finally, Copley Financial Group Inc. purchased a new position in Bank of America during the third quarter worth approximately $550,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Stock Performance

Shares of BAC stock opened at $46.65 on Wednesday. The firm has a 50 day moving average of $45.80 and a two-hundred day moving average of $42.48. The stock has a market capitalization of $357.92 billion, a PE ratio of 14.49, a P/E/G ratio of 1.27 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 52 week low of $32.32 and a 52 week high of $48.08.

Bank of America (NYSE:BAC) last released its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same period last year, the business posted $0.70 earnings per share. Bank of America’s revenue was up 15.0% compared to the same quarter last year. On average, research analysts predict that Bank of America Co. will post 3.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on BAC shares. Citigroup raised Bank of America from a “neutral” rating to a “buy” rating and raised their target price for the stock from $46.00 to $54.00 in a research note on Friday, November 8th. Truist Financial raised their price objective on shares of Bank of America from $52.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a report on Wednesday, October 16th. Morgan Stanley raised their price target on shares of Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Finally, UBS Group upgraded Bank of America from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $43.00 to $53.00 in a research report on Tuesday, January 7th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.58.

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.