SS&H Financial Advisors Inc. Sells 250 Shares of Bank of America Co. (NYSE:BAC)

SS&H Financial Advisors Inc. decreased its position in shares of Bank of America Co. (NYSE:BAC) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,558 shares of the financial services provider’s stock after selling 250 shares during the quarter. Bank of America comprises 1.1% of SS&H Financial Advisors Inc.’s holdings, making the stock its 19th largest holding. SS&H Financial Advisors Inc.’s holdings in Bank of America were worth $3,058,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BAC. Traveka Wealth LLC raised its holdings in Bank of America by 2.7% during the fourth quarter. Traveka Wealth LLC now owns 8,685 shares of the financial services provider’s stock worth $382,000 after buying an additional 226 shares during the last quarter. Longfellow Investment Management Co. LLC increased its position in shares of Bank of America by 0.6% during the third quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider’s stock worth $1,484,000 after acquiring an additional 227 shares in the last quarter. Beacon Investment Advisory Services Inc. lifted its position in Bank of America by 1.1% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 20,863 shares of the financial services provider’s stock valued at $828,000 after acquiring an additional 231 shares in the last quarter. Integrity Financial Corp WA boosted its stake in Bank of America by 1.6% during the 3rd quarter. Integrity Financial Corp WA now owns 14,875 shares of the financial services provider’s stock valued at $590,000 after purchasing an additional 240 shares during the last quarter. Finally, Cahill Financial Advisors Inc. increased its holdings in 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 worth $485,000 after purchasing an additional 249 shares in the last quarter. 70.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BAC. Oppenheimer dropped their target price on Bank of America from $57.00 to $54.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Morgan Stanley cut Bank of America from an “overweight” rating to an “equal weight” rating and raised their price objective for the company from $48.00 to $55.00 in a research note on Monday, December 9th. Truist Financial initiated coverage on shares of Bank of America in a research note on Tuesday, January 7th. They issued a “buy” rating and a $52.00 target price for the company. Citigroup raised shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the company from $46.00 to $54.00 in a research report on Friday, November 8th. Finally, Wells Fargo & Company upped 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $47.50.

View Our Latest Stock Report on Bank of America

Bank of America Price Performance

NYSE BAC opened at $45.88 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.09. The company has a market cap of $352.03 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.55 and a beta of 1.33. Bank of America Co. has a 52 week low of $31.27 and a 52 week high of $48.08. The firm’s 50-day simple moving average is $45.69 and its two-hundred day simple moving average is $42.31.

Bank of America (NYSE:BACGet Free Report) last announced its quarterly earnings results on Tuesday, October 15th. The financial services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.03. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The company had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.25 billion. During the same period in the prior year, the company posted $0.90 EPS. Bank of America’s revenue was up .4% compared to the same quarter last year. Research analysts predict that Bank of America Co. will post 3.27 earnings per share for the current year.

Bank of America Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Bank of America (NYSE:BAC)

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