Parkside Investments LLC Has $1.10 Million Stake in Bank of America Co. (NYSE:BAC)

Parkside Investments LLC reduced its stake in Bank of America Co. (NYSE:BAC) by 9.1% in the 4th quarter, Holdings Channel reports. The firm owned 25,000 shares of the financial services provider’s stock after selling 2,500 shares during the period. Parkside Investments LLC’s holdings in Bank of America were worth $1,099,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Deerfield Management Company L.P. Series C bought a new position in Bank of America in the 2nd quarter worth $240,000. Driehaus Capital Management LLC increased its stake in shares of Bank of America by 56.8% in the second quarter. Driehaus Capital Management LLC now owns 21,993 shares of the financial services provider’s stock worth $875,000 after purchasing an additional 7,964 shares during the period. SkyView Investment Advisors LLC lifted its position in shares of Bank of America by 13.5% during the 2nd quarter. SkyView Investment Advisors LLC now owns 14,957 shares of the financial services provider’s stock worth $595,000 after purchasing an additional 1,783 shares during the last quarter. Ascent Group LLC boosted its stake in Bank of America by 4.2% during the 2nd quarter. Ascent Group LLC now owns 111,551 shares of the financial services provider’s stock valued at $4,436,000 after purchasing an additional 4,494 shares during the period. Finally, Doheny Asset Management CA grew its holdings in Bank of America by 785.9% in the 2nd quarter. Doheny Asset Management CA now owns 58,910 shares of the financial services provider’s stock valued at $2,343,000 after buying an additional 52,260 shares during the last quarter. Institutional investors own 70.71% of the company’s stock.

Bank of America Price Performance

Bank of America stock opened at $46.48 on Monday. The business’s fifty day moving average is $45.82 and its two-hundred day moving average is $42.63. 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 has a market cap of $356.60 billion, a P/E ratio of 14.43, a P/E/G ratio of 1.24 and a beta of 1.33. Bank of America Co. has a 52 week low of $32.35 and a 52 week high of $48.08.

Bank of America (NYSE:BAC) last issued 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 business 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 14.10% and a return on equity of 10.29%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 EPS. Equities research analysts forecast that Bank of America Co. will post 3.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BAC has been the subject of several research reports. Oppenheimer increased their price objective on Bank of America from $54.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $46.00 to $54.00 in a research report on Friday, November 8th. Truist Financial upped their price objective on shares of Bank of America from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Evercore ISI decreased their target price on Bank of America from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday, January 17th. Finally, Keefe, Bruyette & Woods upped their price target on Bank of America from $50.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Bank of America has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

Bank of America 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.