18,156 Shares in Bank of America Co. (NYSE:BAC) Purchased by Clarendon Private LLC

Clarendon Private LLC bought a new stake in Bank of America Co. (NYSE:BAC) during the 4th quarter, Holdings Channel.com reports. The firm bought 18,156 shares of the financial services provider’s stock, valued at approximately $798,000.

A number of other large investors have also recently bought and sold shares of the company. Kennebec Savings Bank bought a new stake in shares of Bank of America in the third quarter worth $29,000. Highline Wealth Partners LLC increased its stake 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 valued at $37,000 after buying an additional 510 shares during the last quarter. Christopher J. Hasenberg Inc lifted its position 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 worth $40,000 after buying an additional 852 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Bank of America during the 4th quarter worth about $42,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Bank of America in the 3rd quarter valued at about $45,000. Institutional investors and hedge funds own 70.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BAC shares. Truist Financial increased their price target on Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $46.00 price objective on shares of Bank of America in a report on Wednesday, October 9th. Wells Fargo & Company boosted their target price on shares of Bank of America from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. UBS Group upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and increased their price target for the company from $43.00 to $53.00 in a research note on Tuesday, January 7th. Finally, StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $48.58.

Bank of America Price Performance

NYSE:BAC opened at $46.48 on Friday. Bank of America Co. has a 52 week low of $32.35 and a 52 week high of $48.08. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.78 and a current ratio of 0.78. The firm’s 50-day simple moving average is $45.82 and its 200 day simple moving average is $42.61. The firm has a market cap of $356.60 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 1.24 and a beta of 1.33.

Bank of America (NYSE:BAC) last announced 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. The company had revenue of $25.30 billion for the quarter, compared to analysts’ expectations of $25.12 billion. Bank of America had a net margin of 14.10% and a return on equity of 10.29%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period last year, the firm earned $0.70 earnings per share. As a group, sell-side analysts predict that Bank of America Co. will post 3.67 earnings per share for the current 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.