Foster Victor Wealth Advisors LLC Has $586,000 Holdings in Bank of America Co. (NYSE:BAC)

Foster Victor Wealth Advisors LLC grew its holdings in shares of Bank of America Co. (NYSE:BAC) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,588 shares of the financial services provider’s stock after acquiring an additional 470 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in Bank of America were worth $586,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BAC. Driehaus Capital Management LLC boosted its holdings in shares of Bank of America by 56.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 21,993 shares of the financial services provider’s stock valued at $875,000 after acquiring an additional 7,964 shares in the last quarter. Regal Investment Advisors LLC boosted its stake in shares of Bank of America by 2.3% during the second quarter. Regal Investment Advisors LLC now owns 47,468 shares of the financial services provider’s stock valued at $1,888,000 after purchasing an additional 1,060 shares in the last quarter. Advisory Alpha LLC grew its holdings in shares of Bank of America by 6.2% during the second quarter. Advisory Alpha LLC now owns 25,974 shares of the financial services provider’s stock worth $1,033,000 after purchasing an additional 1,513 shares during the last quarter. Granite Bay Wealth Management LLC acquired a new position in shares of Bank of America in the second quarter valued at approximately $7,349,000. Finally, SPC Financial Inc. raised its holdings in Bank of America by 7.4% in the 2nd quarter. SPC Financial Inc. now owns 27,460 shares of the financial services provider’s stock valued at $1,092,000 after buying an additional 1,883 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BAC shares. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and upped their price target for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Wells Fargo & Company increased their price target 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. Oppenheimer lifted their price objective on Bank of America from $54.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, January 17th. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, January 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 price objective on shares of Bank of America in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Stock Performance

Shares of BAC stock opened at $46.88 on Wednesday. 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 fifty day simple moving average of $45.83 and a two-hundred day simple moving average of $42.70. Bank of America Co. has a 12 month low of $32.35 and a 12 month high of $48.08. The firm has a market capitalization of $359.70 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.24 and a beta of 1.33.

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. 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 during the quarter, compared to the consensus estimate of $25.12 billion. During the same period in the previous year, the firm posted $0.70 earnings per share. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. Analysts forecast that Bank of America Co. will post 3.67 EPS for the current fiscal 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.