Delta Capital Management LLC Boosts Stock Position in Bank of America Co. (NYSE:BAC)

Delta Capital Management LLC increased its position in Bank of America Co. (NYSE:BAC) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,650 shares of the financial services provider’s stock after acquiring an additional 420 shares during the quarter. Bank of America comprises approximately 1.5% of Delta Capital Management LLC’s holdings, making the stock its 12th biggest position. Delta Capital Management LLC’s holdings in Bank of America were worth $3,764,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Kennebec Savings Bank bought a new position in shares of Bank of America in the third quarter worth about $29,000. Highline Wealth Partners LLC lifted its holdings in Bank of America by 152.7% in the 4th quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 510 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in Bank of America in the 4th quarter worth approximately $42,000. Christopher J. Hasenberg Inc grew its holdings in Bank of America by 525.9% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 1,014 shares of the financial services provider’s stock valued at $40,000 after buying an additional 852 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Bank of America during the third quarter valued at approximately $45,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BAC. HSBC upgraded shares of Bank of America from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their target price on Bank of America from $50.00 to $57.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $46.00 price target on shares of Bank of America in a research note on Wednesday, October 9th. Morgan Stanley lifted their price objective on Bank of America from $54.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Hsbc Global Res upgraded Bank of America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bank of America currently has an average rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Down 0.2 %

Shares of NYSE:BAC opened at $46.54 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50 day simple moving average of $45.79 and a two-hundred day simple moving average of $42.42. Bank of America Co. has a 1 year low of $31.40 and a 1 year high of $48.08. The firm has a market capitalization of $357.13 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 1.23 and a beta of 1.33.

Bank of America (NYSE:BAC) last issued 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 net margin of 12.48% and a return on equity of 10.09%. The firm had revenue of $25.30 billion during the quarter, compared to analyst estimates of $25.12 billion. During the same period in the previous year, the firm earned $0.70 earnings per share. The business’s revenue was up 15.0% on a year-over-year basis. On average, equities analysts predict that Bank of America Co. will post 3.24 EPS for the current 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.