Woodstock Corp Raises Holdings in Bank of America Co. (NYSE:BAC)

Woodstock Corp increased its stake in shares of Bank of America Co. (NYSE:BAC) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159,727 shares of the financial services provider’s stock after purchasing an additional 981 shares during the period. Woodstock Corp’s holdings in Bank of America were worth $7,020,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Edgestream Partners L.P. acquired a new position in Bank of America in the 2nd quarter valued at about $257,000. Miramar Capital LLC grew its holdings in shares of Bank of America by 3.4% during the second quarter. Miramar Capital LLC now owns 21,214 shares of the financial services provider’s stock worth $844,000 after buying an additional 700 shares in the last quarter. Middleton & Co. Inc. MA raised its position in shares of Bank of America by 8.8% in the second quarter. Middleton & Co. Inc. MA now owns 12,383 shares of the financial services provider’s stock valued at $492,000 after buying an additional 1,000 shares during the last quarter. Intrepid Financial Planning Group LLC lifted its stake in shares of Bank of America by 1.6% during the second quarter. Intrepid Financial Planning Group LLC now owns 24,397 shares of the financial services provider’s stock valued at $970,000 after buying an additional 374 shares during the period. Finally, WCG Wealth Advisors LLC boosted its position in Bank of America by 6.7% during the second quarter. WCG Wealth Advisors LLC now owns 66,976 shares of the financial services provider’s stock worth $2,664,000 after acquiring an additional 4,181 shares during the last quarter. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on BAC shares. Wells Fargo & Company boosted their price target on Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Piper Sandler upped their price objective on shares of Bank of America from $44.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Barclays raised their target price on shares of Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Truist Financial initiated coverage on shares of Bank of America in a report on Tuesday, January 7th. They issued a “buy” rating and a $52.00 target price for the company. Finally, StockNews.com raised shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $48.18.

Bank of America Stock Down 1.0 %

Shares of NYSE:BAC opened at $46.65 on Friday. The company has a 50 day moving average of $45.72 and a two-hundred day moving average of $42.34. Bank of America Co. has a 52-week low of $31.27 and a 52-week high of $48.08. 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 capitalization of $357.91 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33.

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 (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.05. The firm had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a net margin of 12.48% and a return on equity of 10.09%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 EPS. As a group, analysts forecast that Bank of America Co. will post 3.24 earnings per share 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.