Nilsine Partners LLC Has $1.40 Million Stake in Bank of America Co. (NYSE:BAC)

Nilsine Partners LLC lifted its holdings in shares of Bank of America Co. (NYSE:BAC) by 15.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,741 shares of the financial services provider’s stock after purchasing an additional 4,166 shares during the quarter. Nilsine Partners LLC’s holdings in Bank of America were worth $1,395,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Kennebec Savings Bank acquired a new stake in shares of Bank of America in the 3rd quarter valued at about $29,000. Highline Wealth Partners LLC boosted its position in shares of Bank of America by 152.7% during the fourth quarter. Highline Wealth Partners LLC now owns 844 shares of the financial services provider’s stock worth $37,000 after buying an additional 510 shares during the period. Christopher J. Hasenberg Inc grew its holdings in shares of Bank of America by 525.9% during the third 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 stake in Bank of America in the 4th quarter valued at approximately $42,000. Finally, Northwest Investment Counselors LLC bought a new stake in Bank of America in the 3rd quarter valued at approximately $45,000. Institutional investors own 70.71% of the company’s stock.

Wall Street Analyst Weigh In

BAC has been the topic of a number of recent research reports. Morgan Stanley lifted their price objective on shares of Bank of America from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Friday, January 17th. StockNews.com upgraded shares of Bank of America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Citigroup upgraded shares of Bank of America from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $54.00 in a research note on Friday, November 8th. Keefe, Bruyette & Woods raised 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 upped their target price on Bank of America from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.58.

Bank of America Stock Performance

NYSE:BAC opened at $46.88 on Wednesday. The stock has a 50 day simple moving average of $45.82 and a 200 day simple moving average of $42.67. The stock has a market cap of $359.70 billion, a P/E ratio of 14.56, a PEG ratio of 1.24 and a beta of 1.33. Bank of America Co. has a 1-year low of $32.35 and a 1-year high of $48.08. 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 (NYSE:BAC) last posted its earnings results on Thursday, January 16th. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.05. Bank of America had a return on equity of 10.29% and a net margin of 14.10%. The company had revenue of $25.30 billion during the quarter, compared to the consensus estimate of $25.12 billion. During the same quarter last year, the firm earned $0.70 earnings per share. The company’s revenue was up 15.0% on a year-over-year basis. Research analysts anticipate 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.