Patriot Financial Group Insurance Agency LLC Buys 819 Shares of Bank of America Co. (NYSE:BAC)

Patriot Financial Group Insurance Agency LLC increased its stake in Bank of America Co. (NYSE:BAC) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 55,802 shares of the financial services provider’s stock after purchasing an additional 819 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Bank of America were worth $2,452,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Accent Capital Management LLC lifted its holdings in Bank of America by 43.0% during the 3rd quarter. Accent Capital Management LLC now owns 39,500 shares of the financial services provider’s stock worth $1,567,000 after purchasing an additional 11,873 shares in the last quarter. Summit Global Investments increased its position in shares of Bank of America by 237.6% during the third quarter. Summit Global Investments now owns 51,278 shares of the financial services provider’s stock valued at $2,035,000 after buying an additional 36,089 shares during the period. Geode Capital Management LLC lifted its stake in Bank of America by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 140,255,970 shares of the financial services provider’s stock worth $5,546,871,000 after purchasing an additional 1,700,141 shares in the last quarter. Baker Avenue Asset Management LP grew its position in shares of Bank of America by 125.8% during the 3rd quarter. Baker Avenue Asset Management LP now owns 61,002 shares of the financial services provider’s stock valued at $2,421,000 after purchasing an additional 33,983 shares in the last quarter. Finally, Clarendon Private LLC bought a new position in Bank of America in the 4th quarter worth about $798,000. Hedge funds and other institutional investors own 70.71% of the company’s stock.

Bank of America Trading Down 0.1 %

Bank of America stock opened at $47.03 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.04. Bank of America Co. has a 12-month low of $32.35 and a 12-month high of $48.08. The firm has a market capitalization of $360.82 billion, a price-to-earnings ratio of 14.57, a P/E/G ratio of 1.24 and a beta of 1.33. The firm has a 50 day moving average of $45.82 and a 200 day moving average of $42.63.

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 the consensus estimate of $0.77 by $0.05. The company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $25.12 billion. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company earned $0.70 EPS. As a group, research analysts predict that Bank of America Co. will post 3.67 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Piper Sandler cut their target price on shares of Bank of America from $50.00 to $49.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $46.00 target price on shares of Bank of America in a research note on Wednesday, October 9th. Phillip Securities upgraded shares of Bank of America from a “neutral” rating to an “accumulate” rating and set a $44.00 price objective on the stock in a research report on Friday, October 18th. Barclays lifted their price target on Bank of America from $53.00 to $58.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Finally, Wells Fargo & Company boosted their target price on shares of Bank of America from $52.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, November 15th. 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 given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.58.

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.