Key Client Fiduciary Advisors LLC Sells 794 Shares of Bank of America Co. (NYSE:BAC)

Key Client Fiduciary Advisors LLC trimmed its position in shares of Bank of America Co. (NYSE:BAC) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,252 shares of the financial services provider’s stock after selling 794 shares during the quarter. Key Client Fiduciary Advisors LLC’s holdings in Bank of America were worth $1,637,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Marino Stram & Associates LLC boosted its stake in shares of Bank of America by 1.7% during the fourth quarter. Marino Stram & Associates LLC now owns 13,204 shares of the financial services provider’s stock valued at $580,000 after purchasing an additional 222 shares in the last quarter. Traveka Wealth LLC lifted 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 period. Longfellow Investment Management Co. LLC boosted its position in Bank of America by 0.6% during the 3rd quarter. Longfellow Investment Management Co. LLC now owns 37,393 shares of the financial services provider’s stock valued at $1,484,000 after acquiring an additional 227 shares in the last quarter. Beacon Investment Advisory Services Inc. increased its holdings in shares of 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 during the period. Finally, Gemmer Asset Management LLC lifted its stake in shares of Bank of America by 1.8% during the 4th quarter. Gemmer Asset Management LLC now owns 13,183 shares of the financial services provider’s stock worth $579,000 after purchasing an additional 235 shares during the last quarter. 70.71% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on BAC shares. Oppenheimer increased their price target on shares of Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Wells Fargo & Company increased their target price on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Hsbc Global Res raised shares of Bank of America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price objective on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, Barclays boosted their target price on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America Stock Performance

BAC opened at $46.41 on Friday. The firm has a fifty day moving average price of $45.81 and a 200 day moving average price of $42.55. Bank of America Co. has a 1 year low of $32.35 and a 1 year high of $48.08. The stock has a market cap of $356.13 billion, a P/E ratio of 14.41, a P/E/G ratio of 1.24 and a beta of 1.33. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.78 and a quick ratio of 0.78.

Bank of America (NYSE:BAC) last posted its 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. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business had revenue of $25.30 billion for the quarter, compared to analyst estimates of $25.12 billion. During the same period in the prior year, the company posted $0.70 EPS. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. Equities research analysts anticipate that Bank of America Co. will post 3.67 earnings per share 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.